Looking over the trend we have in place now that we are entering a full-on bull reversal it looks like we have a rising wedge forming that just happens to exactly intersect with a .5 Fibonacci line in exactly 7 days.
I'm still just over 50% of my portfolio long on
BTCUSD
but considering now where my target will be for profit taking.
Seems like a good time to go long if you aren't already though. We'll see some pull backs on the way up and I'm expecting one to 9100-9200 today before we go upwards north of 9500-9600.
Target for this rising wedge is to consider taking profits in the 10,300-10,400 range if you are conservative, but you can roll the dice and it may push through above 10,400 but remember we had very strong resistance around 11,500 a few months ago, TWICE.
I'm still just over 50% of my portfolio long on
BTCUSD
but considering now where my target will be for profit taking. Seems like a good time to go long if you aren't already though. We'll see some pull backs on the way up and I'm expecting one to 9100-9200 today before we go upwards north of 9500-9600.
Target for this rising wedge is to consider taking profits in the 10,300-10,400 range if you are conservative, but you can roll the dice and it may push through above 10,400 but remember we had very strong resistance around 11,500 a few months ago, TWICE.