Broadening Descending Wedge could signify a possible bull rally!

Traditionally, as seen historically with broadening descending wedges , we may see a breakout up to the low $7000s soon. These types of moves happen quite often in these patterns, 3 touches of the bottom of the wedge and 3 touches of the top followed by a partial decline before the breakout.

Warning: I am currently in no position, I will wait for further confirmation with a clean breakout before entering any trade.

Comment:

This scenario is still a possibility, huge fakeout due to the Bitmex maintenance. We have now broken out of the wedge organically and made a clean retest.

Trade closed: target reached:

Trade closed @ $7100, good profits!