Double channel based on recent uptrend. Blue is a 3 point trend channel. Red is a 3 point reverse trend channel.
The rising wedge could be a good short opportunity IF it breaks DOWN, reverse channel support line would be target and potential long entry. If the wedge does not play out price should follow along the Blue channel.
updating previous SRN chart: the accummulation period finally broke out + built new support+very weak resistance ahead expecting 70-100% more upside easily.
Comparing this to a wyckoff accumulation schematic......BTCs price action is eerily similar, will need to see how it plays out and I think that we will follow the spring (in light blue) schematic if it does rather than the LPS (spring case would fuel a run up better imo)
LPS follows the diagonal, going under 6500 would invalidate.
Potential spring point at...
adjusted lines with data from porevious post: btc will follow along into a spring most likely in the 7700-7750 region IMO.
great short term long entry, look to potntially close around 8200-8300 depending on price action.
![XBTUSD.P: [XBT-VPVR-LONG] x [short-term1]](https://s3.tradingview.com/n/nM92L634_mid.png "[XBT-VPVR-LONG] x [short-term1]")
