BTC still in downward wedge, possibly going towards 6K once more

BTC is still in a downward wedge. The price previously touched around 6,515 and I expect us to get lots closer to 6K once more before we break out of this wedge.

Personally I am trying to make buys along the bottom support line of this wedge. This is always a good way to DCA in case of a sudden break to the upside :)

Judging by the parabolic indicator I suspect the upswing is finishing and we are going to start a downswing.

Next price targets / buys are:

6,200
6,000
5,800 (we might wick down to this point briefly)

I suspect we will hit these prices over the next week or so (unless we take a sudden rally/dump) - be ready to buy either way!

Note: I am a horrible trader, my calls are usually always wrong. Do not use this as financial advice! I only am sharing what I am doing myself :) Make your own decisions!

~ LeshaCat / EasyX Community Admin

Comment:

We could hit the 6K level temporarily today if we have a turnaround from the days bump upwards. Otherwise we should have the downswing continue tomorrow where we will hit 6k levels.

Comment:

It looks like we are headed back up towards the upper trend line before Christmas. I think this is just a bull trap and we will rebound off the top trend line to come back towards the bottom trend line around Christmas.

I will be shorting (selling) BTC for a few days from the top of the wedge back down towards 6K where I will long (buy) BTC.

No exchanges, no leverage. Only using coin switchers within Exodus wallet.