BTCUSD 12000 - 11600 ST
Updated
Long-term: (Out of frame) Ascending wedge with three bullish pennants forming.
Mid-term : Rising trendline of the bullish pennant Extended, on its way to retest higher resistance as support.
Ranging in the pennant , flirting with 12000, this top defines the second point of the peak resistance line as seen in the previous bull-flag.
This line ends on the Ascending wedge's support meeting with the low and high support line, and predicts the timing for the next outbreak.
Short-term: Retest support on the high resistance line 11600 - 11700 area.
Now that the pattern has met its outlines, a Mid-Term analyses will follow soon.
Mid-term : Rising trendline of the bullish pennant Extended, on its way to retest higher resistance as support.
Ranging in the pennant , flirting with 12000, this top defines the second point of the peak resistance line as seen in the previous bull-flag.
This line ends on the Ascending wedge's support meeting with the low and high support line, and predicts the timing for the next outbreak.
Short-term: Retest support on the high resistance line 11600 - 11700 area.
Now that the pattern has met its outlines, a Mid-Term analyses will follow soon.
Note
Small bounce on the high resistance line 11750 - 11600Trade closed: target reached
No bounce on the high resistance line.Closed on target.
Note
Analyses : 0.6% Drawdown | R/R 5.6 | TP1 3.3% Profit
MVPMC
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