BTC Falling wedge pattern forming on 24hr
Updated
Weekly appears to confirm a bearish trend at least for the short term (a few weeks?)
Looking for this pattern to form over the course of this week + next week to make another long entry into either an accumulation range or leg higher.
Short term trades using these approximate fib levels + trend lines for entries and exits,
also areas to place stops below or above fibs if your making a long or short trades.
Trade idea invalidated if trendlines broken either direction, though these patterns never form perfectly so there is some wiggle room above or below trend lines for fake breakouts etc.
Take profit targets of ~43k, ~51k, ~55k if pattern is confirmed and there is a break to the upside from the wedge.
Invert the chart if you're stacking sats :)
Cheers.
Looking for this pattern to form over the course of this week + next week to make another long entry into either an accumulation range or leg higher.
Short term trades using these approximate fib levels + trend lines for entries and exits,
also areas to place stops below or above fibs if your making a long or short trades.
Trade idea invalidated if trendlines broken either direction, though these patterns never form perfectly so there is some wiggle room above or below trend lines for fake breakouts etc.
Take profit targets of ~43k, ~51k, ~55k if pattern is confirmed and there is a break to the upside from the wedge.
Invert the chart if you're stacking sats :)
Cheers.
Note
a closer lookresistance at the 0.786 fib, possible long entry here if trading shorter time frames
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