Rising Wedge Pattern Found on BTC! Price Zones We Should Expect
My bullish price targets have been met at the 52000 green box area. As I said before, once we pass the 52000 area, our next target would be at the 54000 region. We arrived in both targets which are represented by the yellow stars.
The 54000 price area seems to be a strong resistance right now, although we have broke up towards the 55800 zone but just for a quick moment.
I have spotted a rising wedge pattern which is typically a bearish pattern, but we should be ready for any outcome. A breakout in either direction would be expected within 10 days or at the point of the rising wedge.
If we break towards the upside, my next price target would settle at the 57300 area before moving on towards the all time high price area at 58300. Then the next target is at the 65200 region.
But if the bearish scenario plays out, we can fall back down to the 48k to 49k price zones Worst case scenario, we would be seeing the 44100 area again.
I am open for feedback, suggestions and advice. Thanks!
The 54000 price area seems to be a strong resistance right now, although we have broke up towards the 55800 zone but just for a quick moment.
I have spotted a rising wedge pattern which is typically a bearish pattern, but we should be ready for any outcome. A breakout in either direction would be expected within 10 days or at the point of the rising wedge.
If we break towards the upside, my next price target would settle at the 57300 area before moving on towards the all time high price area at 58300. Then the next target is at the 65200 region.
But if the bearish scenario plays out, we can fall back down to the 48k to 49k price zones Worst case scenario, we would be seeing the 44100 area again.
I am open for feedback, suggestions and advice. Thanks!