4 Hour Falling Wedge - First Breakout opportunity is Around 37k
We are in a clear Falling Wedge after 3 day of being in a Descending Broadening Wedge. The thick Pink lines are the boundaries. You will also note that the Fib to the right was drawn from the All Time Hight to the last bottom. I proves interesting that the .618 Fib by that measurement is almost exactly at 37k as well.
My Prognosis
If we do not confirm above the Falling Wedge and fall back in, then I'm going to assume that we may revisit the bottom of the Wedge, So I will start out with a low leverage Short trade if we do not confirm above.
My Prognosis
If we do not confirm above the Falling Wedge and fall back in, then I'm going to assume that we may revisit the bottom of the Wedge, So I will start out with a low leverage Short trade if we do not confirm above.
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