The descending broadening wedge occurs when both the resistance and support are trending down and to the right and the price range is broadening with time.
Prices in the descending broadening wedge pattern breakout upward about 79% of the; when prices breakout above, prices eventually rise to an averaged maximum gain of 33% before the first 20% reversal; and when prices breakout below support, prices decline by an averaged maximum of 20%
Prices in the descending broadening wedge pattern breakout upward about 79% of the; when prices breakout above, prices eventually rise to an averaged maximum gain of 33% before the first 20% reversal; and when prices breakout below support, prices decline by an averaged maximum of 20%
Note
7900 support becoming a very important level for BTC. i am still shorting from 9K and looking to close my position around 7900 level and will wait the next move, if it bounce from 1 year log support i will open new long position. if not i will continue my short position downt to 6350 level....
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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.