BitcoinShort
An extreme complexity on top has led to a simple drop
Happy new week, Dear Swing Traders!
When last Thursday H&S was rewritten by a rising wedge it was again not easy to judge for how much we could have entered the "sweet zone" above point 5. This time a «tricky small pin» for 100 dollars only. Now we are experiencing another exciting event: the price has not yet reached point 6 of target line 1-4-6 of Wolfe's bear pattern. If it does, it will be an exit out of the correction channel. And bearing in mind the broadening wedge in descending tendency of price move from the upper border to the lower one we get another confirmation of 13K target at that broadening wedge lower border.
Yours,
ICBF Swinger Dagmar
When last Thursday H&S was rewritten by a rising wedge it was again not easy to judge for how much we could have entered the "sweet zone" above point 5. This time a «tricky small pin» for 100 dollars only. Now we are experiencing another exciting event: the price has not yet reached point 6 of target line 1-4-6 of Wolfe's bear pattern. If it does, it will be an exit out of the correction channel. And bearing in mind the broadening wedge in descending tendency of price move from the upper border to the lower one we get another confirmation of 13K target at that broadening wedge lower border.
Yours,
ICBF Swinger Dagmar
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.