BTC Price Analysis 2-Aug-2022
Updated
In an hourly time frame, BTC has been observed in Falling Wedge Pattern Structure
The falling wedge is a bullish price pattern that represents a story about the market in which bulls are preparing for another push. A falling wedge pattern is bullish , although it appears after a bearish trend .
The falling wedge pattern works as both a trend work as a trend reversal and a trend continuation pattern.
If the falling wedge appears in a downtrend, it is considered a reversal pattern.
A falling wedge is an important technical formation that signals that the correction, or consolidation, has just ended as the asset’s price left the wedge to the upside and, in most cases, the continuation of the overall trend is taking place.
Price Action Suggestion based on the Pattern
Buy Level : 23506 $
Target : 23965 $ - 24595 $
Stop Loss : 22899 $
Happy Trading
The falling wedge is a bullish price pattern that represents a story about the market in which bulls are preparing for another push. A falling wedge pattern is bullish , although it appears after a bearish trend .
The falling wedge pattern works as both a trend work as a trend reversal and a trend continuation pattern.
If the falling wedge appears in a downtrend, it is considered a reversal pattern.
A falling wedge is an important technical formation that signals that the correction, or consolidation, has just ended as the asset’s price left the wedge to the upside and, in most cases, the continuation of the overall trend is taking place.
Price Action Suggestion based on the Pattern
Buy Level : 23506 $
Target : 23965 $ - 24595 $
Stop Loss : 22899 $
Happy Trading
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