Bitcoin: Short-Term Reversal Due to Rising Wedge

Bitcoin is climbing in a dangerous formation with low volume, creating a trading pattern known as "Rising Wedge". This pattern typically tends to reverse the short-term trend, potentially driving the price down to the base of the formation in the region of $35,000.

Therefore, for safety, I have decided to sell a portion of my Bitcoins.

Selling Price: $38,400
Volume: 33%
Current Portfolio: 66% Bitcoin / 33% USD / 0% Altcoins

Comment:

Bitcoin Breaks Upward Pattern

Good morning! Bitcoin has broken through its narrowing upward pattern. The projection for this pattern's target, calculated based on the size of the triangle's base, has almost been reached just now at 42,000.

Yesterday, I bought back most of the Bitcoins I had previously sold for safety at around 39,550, leaving a small part I couldn't buy as the price rose too quickly. I plan to use this remaining USD balance to buy altcoins.

Average purchase price: 39,550
Volume: 26%
Total portfolio:

Trade closed manually