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Swing-trade

4/10 BTC EASY SHORT TO 33KHey there, let´s just crack into it. BTC is forming a Wedge, with at least has to form 2 highs (1 high and one lower high), which already happened, as well as two lows (low and higher low), while the second low could be formed when hitting our happy little box. The area at 32.500-34000 could be a target, and if it is hit and it bounces, there is a good chance to create this wedge pattern. 7 out of 10 of these patterns turn out as a breakout, which means a bullish movement to the upside. Anyhow, in some scenarios, 3 out of 10 turn out to be breakdowns, which pulls the price to lower levels. The price target when breakouts appear is the length of first high and low, which marks the widest range at the same time. This is measured from the point the price leaves the wedge pattern. BTC could rise up to prices of 48.000USD in January if this wedge breaks out. Some breakouts to the upside tend to retest the highest high of the wedge, to find an already created support at that point. Volume is okay- for a positive, healthy,y, and confirmed breakout, we want to see the price move up with high volume dynamically. Rsi indicates not very much since this is a short term swing. I will take this short, let´s see what it brings us. If you are trading with stop losses you might consider placing some at certain points. And as always, happy trading, gqt
COINBASE:BTCUSDShort
by GER-Quality-Trades