The breakout from the descending tightening wedge that formed over the past 2 weeks seems to have failed, despite printing an uncanny similarity to previous breakouts.
- 1 last touch on wedge at
39K area would be the third touch and thus completing a standard ascending tightening wedge printing since about October 2020. I suspect it will break to the upside for new ATHs
- Many bearish fibs correlating with $39k. For the sake of sharing a clean chart I drew only one. 12/18 swing high to 12/27. The 1.272 extension correlates with $39k.
- Weekly Ichimoku wants39K
- EMA 70 wants39K (my favorite EMA for BTC)
-39K correlates with upper boundary of the next volume cluster (VPVR)
- 1 last touch on wedge at
39K area would be the third touch and thus completing a standard ascending tightening wedge printing since about October 2020. I suspect it will break to the upside for new ATHs- Many bearish fibs correlating with $39k. For the sake of sharing a clean chart I drew only one. 12/18 swing high to 12/27. The 1.272 extension correlates with $39k.
- Weekly Ichimoku wants
39K- EMA 70 wants
39K (my favorite EMA for BTC)-
39K correlates with upper boundary of the next volume cluster (VPVR)Trade active
Nothing changed. 1.618 correlates with bottom of ascending wedge which correlates with where volume cluster begins and where the knife has a strong possibility of being caught.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.