Not too long after I published yesterday’s short term outlook on BTC, the price broke on the upside above the wedge. However, the price break was not significant – staying within the bands. Re-looking at the upper edge of the wedge and using a best fit regression of the highest highs for this consolidation period continues to show a wedge with the ocillations generally averaging around $3800. This updated wedge is very similar to the one I outlined yesterday, but shows a slight bearish nature. I still believe that this will break down and retest the $3500 support level.
Again, set tight stop losses and trade within the bands for small short term profits.
Again, set tight stop losses and trade within the bands for small short term profits.
