BTC Rising Wedge or Break Out?
I'm looking at the possibility of a rising wedge here and have taken profits on alts and opened small short positions.
If it breaks I will stop out otherwise we could revisit the 6200 area and retest the support of the old bear resistance TL. Timeframe looks like the next 24 hours for confirmation.
Irrespectively there's a nice bottoming out feeling for BTC 0.32% here and feeling confident of staying above 6k although not quite bull (yet). I'm trading both ways in small scalps where opportunities present themselves.
Happy trading and good luck!
If it breaks I will stop out otherwise we could revisit the 6200 area and retest the support of the old bear resistance TL. Timeframe looks like the next 24 hours for confirmation.
Irrespectively there's a nice bottoming out feeling for BTC 0.32% here and feeling confident of staying above 6k although not quite bull (yet). I'm trading both ways in small scalps where opportunities present themselves.
Happy trading and good luck!
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