2 Month Downtrend
After 3 months (March-June) of chop, WTC/BTC has now been in a 2 month downtrend.
Quick Falling Wedge Play
This downwards channel has had one previous falling wedge pattern, with a quick breakout resulting in ~25% profit.
We are now at the convergence point of another falling wedge pattern and we see an opportunity to buy here at the support...
This is my simple analysis. If you remove all thoughts of profit and loss, you're left with a simple falling wedge and a bright, innovative future. We may very well see new lows into October while this pattern completes. However, I do not believe in an extended future for this bear market.
falling wedge on the daily chart?
before btc takes off toward the moon, i'm seeing another pullback when it hits the top of the wedge. if the price does pullback, it could be a great spot from which to take long position...
Short term, Bitcoin seems to be stuck in a slow downtrend. It broke out of an initial falling wedge (yellow area) and currently forming a smaller falling wedge (sky blue lines) after the break out.
BULLISH:
These falling wedges if fully realized may have a potential retest 9.3k or even 10.5k.
Seems like a good buy soon if you are bullish and you think 7.5-8k...
FX_IDC:EURUSD Monthly Setup - November
Base analysis
EURUSD 09/15 - Valid
EURUSD 10/10 - Valid
Correlation analysis
TVC:DXY
The Correlation -Valid
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Caution, I only trade on a moderate trend basis on H4 D1 and sometimes W1...
