Hi,
Well, extrapolating the finite data, I think this should be pretty comprehensive. So the chart here itself is pretty self explanatory but let me guide some points here.
1. To be bullish or if I may say, see any upside soon we need to close above 0.618 fib which is around $7600 on a MONTHLY.
2. A side ways case could emerge if we get stuck between fib 0.618 and support of EMA 21 just below at $7000. (unlikely)
3.A larger Wedge pattern could reveal it self as you see I have drawn on the chart IF we break 55 EMA monthly which is exactly where 200 MA weekly is at $5000.
4.AND if we break $5000 use 0.786 fib and below that you have the bottom for wedge respectively as supports.
What IF bullish? I would wait for BTC to break above head resistance (upper line of the wedge) to be long.
What IF Bearish? I would try to Dollar cost average myself into the market.
Trade Safe!
******THIS IS FOR EDUCATIONAL PURPOSES ONLY*******
Well, extrapolating the finite data, I think this should be pretty comprehensive. So the chart here itself is pretty self explanatory but let me guide some points here.
1. To be bullish or if I may say, see any upside soon we need to close above 0.618 fib which is around $7600 on a MONTHLY.
2. A side ways case could emerge if we get stuck between fib 0.618 and support of EMA 21 just below at $7000. (unlikely)
3.A larger Wedge pattern could reveal it self as you see I have drawn on the chart IF we break 55 EMA monthly which is exactly where 200 MA weekly is at $5000.
4.AND if we break $5000 use 0.786 fib and below that you have the bottom for wedge respectively as supports.
What IF bullish? I would wait for BTC to break above head resistance (upper line of the wedge) to be long.
What IF Bearish? I would try to Dollar cost average myself into the market.
Trade Safe!
******THIS IS FOR EDUCATIONAL PURPOSES ONLY*******