Resistance Line: At least two highs are required to draw the upper resistance trend line. For the descending broadening wedge to be a valid pattern, price action should be creating lower highs.
Support Line: At least two lows are required to draw the lower support trend line. Price action should be creating lower lows in order for the pattern to be valid.
Price Action Expansion: The distance between the resistance and support lines will expand or widen as the pattern develop
Previous idea:
4HR hidden bull DIV completed! Bear Trap triggered below 10k

Again! Get In The Train. 19k Next Month

Original idea:
Get in the train and ignore your fear, ATH in 1-2 month

Support Line: At least two lows are required to draw the lower support trend line. Price action should be creating lower lows in order for the pattern to be valid.
Price Action Expansion: The distance between the resistance and support lines will expand or widen as the pattern develop
Previous idea:
4HR hidden bull DIV completed! Bear Trap triggered below 10k

Again! Get In The Train. 19k Next Month

Original idea:
Get in the train and ignore your fear, ATH in 1-2 month

Note
Still valid, watch for breakout in next 1-2 daysNote
The wedge still in play and developing as expected although it took longer time but the wedge resistance has been confirmed with 4 times touch lower low. As well as 11/11400 area holding very nice.I am expecting breakout to upside in anytime very soon. Watch out!
Note
1hr classic bull div + 4hr hidden bull div ( CONFIRMED )When i published this idea ( Bitcoin free fly incoming! ) before we drop from 13k level, I did explain its still incoming and retrace to 12k level is very possible and we did retraced below it as well as i said we should wait 2-3 sideway moves before shooting upside
So the idea still in process and so early to judge when dealing with 2d time frame even if we got closed below 11500 in lower timeframes but we did reverse very nice after we spotted divergences just in time before it complete and we did share with you!
I really wonder some people who asking for updates privately or in comments without even pressing like to the idea!!!
Another thing i would like to point out, look to the trend line:
Note
Correction is almost over - no need to panic!Although we got lower price but in my opinion it doesn't invalidate anything yet, divergences on lower time frames most of times are complex but its a clear sign that reversal is coming.
So if we look to the daily, we can adjust the trendline and today candle close will tell us if its still valid. The pattern will turn to be a large pennant more than a triangle and both of them most of times are bullish when formed in uptrend.
The fractals on daily rsi&macd are almost completed so yea today should be the day to make it or break it. daily close below 10300 going to be very bad.
Related publications
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.
Related publications
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.