BitcoinUpdated BTC to retest 7.4k?
First post so be kind :)
I found a potential descending wedge pattern that has found support just under the breakout of 7k on the 6th of april which could see a retest of 7.4k again followed by sideways movement similar to the previous 2 weeks trying the break 7k. Bears will take any chance they get in a fearful market, but originally breaking 7k was a start.
Edit: the top half of the white wedge dates back the the start of the recent downtrend from the 12th of feb and lines up perfectly(not shown in picture).
I found a potential descending wedge pattern that has found support just under the breakout of 7k on the 6th of april which could see a retest of 7.4k again followed by sideways movement similar to the previous 2 weeks trying the break 7k. Bears will take any chance they get in a fearful market, but originally breaking 7k was a start.
Edit: the top half of the white wedge dates back the the start of the recent downtrend from the 12th of feb and lines up perfectly(not shown in picture).
Trade closed: target reached
Looks like we broke out of the top trend line and could potentially get a small correction(original projections support was a little loose but formed a douoble bottom and was within limits). Looking to retest 6.85k - 7k range and then go long for 7.4k
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.
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.