BTC Pattern Analysis (Rising Wedge)
Updated
After 4 days of accumulations, bitcoin is creating a rising wedge pattern and this will bring a higher tendency to breakdown as it is a bearish sign. To support this, I bring up the MDAC and in the 4hr chart, December 19, it flashes bearish and it is still continuing the same direction.
If the breakdown takes place, it will bring us to the target of 22K mark.
Note: This is solely my own personal analysis.
If the breakdown takes place, it will bring us to the target of 22K mark.
Note: This is solely my own personal analysis.
Trade closed: target reached
As of 12 hours ago, our target of 22K mark reached. We broke down. CONGRATULATIONS to all that took this trade.As of now, bitcoin is consolidating sideways and using the 1 hourly chart, it seems to be creating a symmetrical triangle and this will probably lead more to the upside and to retest back the 24K mark. I will be creating an analysis once more data is collected to be much more accurate.
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