BTC inside a wedge?
Updated
I think we will see price coil up inside the white wedge I've drawn. Time will tell whether we break up or down but it could be a while inside the wedge. The cloud is red so downside could be more probable as the top of the clould will serve as resistance.
Note
After posting my last idea i took a look at the weekly and BTC is showing to be in the white wedge still but with a green cloud below us instead of red on the daily. The cloud rises substantially around May 28. If we can stay above it then I think we could see it go as high as 13.6k before meeting major resistance again. The cloud gets awfully thin around September. Perhaps we see bullish action for a few months before truly pulling back to form a higher low on the downside? Perhaps 6800-7000 when it does dump?
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.