Everyone is bearish and waiting for 40k. Which makes me think everyone cannot be right.
Meanwhile Bitcoin seems to be in a descending wedge.
I think this is how it may play out. Another rejection from the top wedge line and another leg down and possibly a long wick touching the 50 day MA and bounce back and close above the bottom wedge line. Then move up and break out the top wedge line and off to another ATH.
A breakout of the top wedge line will make me go bullish.
Meanwhile Bitcoin seems to be in a descending wedge.
I think this is how it may play out. Another rejection from the top wedge line and another leg down and possibly a long wick touching the 50 day MA and bounce back and close above the bottom wedge line. Then move up and break out the top wedge line and off to another ATH.
A breakout of the top wedge line will make me go bullish.
Trade closed: target reached:
Nailed it!