Just some simple wedge possibilities for Bitcoin on short timeframe. Watch the breakout points and be careful not to get trapped.
Comment:
We broke out of the falling wedge as expected, not we are forming a rising wedge that I expect will break down at some point. This rising wedge is likely to reach 9400-9500 before breaking down.
The breakdown of this rising wedge is significant because it could trigger a selloff to sub 9k. Under 9k is probably where a lot of long stop losses are, selling may accelerate if it is breached for any substantial period.
A short entry at the top of this rising wedge may be a good option.
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The breakdown of this rising wedge is significant because it could trigger a selloff to sub 9k. Under 9k is probably where a lot of long stop losses are, selling may accelerate if it is breached for any substantial period.
A short entry at the top of this rising wedge may be a good option.