Felix000

#Bitcoin To Wedge Or Not To Wedge ? Update #btcusd

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I've been experimenting with Fib cycles on the daily chart , and I predict Bitcoin will close above $10,320 by end Friday 27th April. The alternative would be that it closes above $8,200. The idea being the yellow verticals that each should have a closing price above the last to confirm the upward trend - I haven't back-tested the idea, but decided to publish because the "Wedge Or Not To Wedge" idea needed updating.
Comment: This is the easy bit. How do you tell when this leg of the run is over followed by max five days looking for new support when the market will have to hold above $8,616. Well one of two ways. First way is the first day bar that closes below the last day bar. The other way is first MACD bar that closes down. Given the rise in the market, the second day sell off could be quite a hair-raiser. Enjoy.
Comment: Waiting to update my Daily Wedge but market keeps on going up.

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