Bitcoin If we look at the weekly chart, we can observe a rising wedge forming, which is a bearish formation. Which is complemented by the continuing rejection from the resistance formed by the area around VAL from the previous range / around 30200. My thought is that I see a potential long trade from the area around 29100-28500, which would complement the aforementioned wedge. The target still the mentioned near 30,200 USD. Second opFurthermore, if the idea of a rising wedge that ends in a slump were correct, I would look at other long positions depending on the situation, either around 24000 or above 19000. Those are conspiracies anyway.
In addition to long trades, there is an opportunity arising from the nature of the rising wedge, and if there is a rotation around the mentioned 30200, I see an opportunity to short, which has the potential to bring 5 or more R.
In addition to long trades, there is an opportunity arising from the nature of the rising wedge, and if there is a rotation around the mentioned 30200, I see an opportunity to short, which has the potential to bring 5 or more R.
Comment:
*capitulation
Trade active:
finding EP on this levels for long
Trade active:
LONG was stopped out , now finding short on retest
