Get started
billaddison

BTC/USD – Rising Wedge 6500 top, then correction?

Bitcoin (BITFINEX:BTCUSD)  
billaddison Updated   
BITFINEX:BTCUSD   Bitcoin
Chart Patterns BTCUSD BTC
6
0
chartpattern btcusd btc
Rising wedge on Bitcoin daily. Should hit the top of the wedge around 6500 with possible correction. Supports marked on chart.
Comment:
The rising wedge tightened up a bit towards the top so I've redrawn it to capture the latest resistance points including a top at 6200. I think that was the top for now. Should break this rising wedge to the downside next few days with a target of 4200-4400.

snapshot
Comment:
Hit 6500 and minor correction now. With CME news and 2 weeks till the hardfork, we're likely heading to at least 7k now before a real correction.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.