Bitcoin probably will Recover soon (Falling wedge pattern)
Bitcoin has been falling over the last few days, even more so with the SEC news accusing cryptocurrency exchanges BinanceUS and Coinbase.
Looking at the chart we are inside a falling wedge pattern that usually breaks upwards, we also have strong support in the 25k region which coincides with 0.382 of fibo.
Comparing the market in general, such as SPX500, Nasdaq, Gold and DXY, Bitcoin is cheap and once this FUD is resolved we will probably see a quick price recovery.
So as long as we are above 25k, most likely the price will recover in the next few days.
Looking at the chart we are inside a falling wedge pattern that usually breaks upwards, we also have strong support in the 25k region which coincides with 0.382 of fibo.
Comparing the market in general, such as SPX500, Nasdaq, Gold and DXY, Bitcoin is cheap and once this FUD is resolved we will probably see a quick price recovery.
So as long as we are above 25k, most likely the price will recover in the next few days.
Telegram group: t.me/heavensignals
With the closing of today's daily candlestick we can see that BTC has broken the wedge pattern or in another bearish channel view that would be the bull flag, we have considerable volume and this could be a spark candle for a new leg up with strength to pass 30k.
With that I decided to buy the remaining balance of bitcoin, now I'm back 100% in crypto, with the portfolio approximately like this: 13% ETH / 87% BTC.
Purchase price: 28,350
Volume: 33%