Bullish reversal formation enticing longs for final stage of distribution. Should break up out of the wedge, trapping longs, liquidating shorts. Can go a bit higher on the fake breakout but we should seen strong rejection at a critical point in the chart. The strong rejection should lead to markdown into the SOW (sign of weakness). Buckle up, we're going for a ride.
Trade active
Breakdown of the descending wedge, high probability confirmation of the SOW. Price should move up, sweep the golden pocket, trap longs, dump to $90k
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.
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.