Potential Repeat Pattern for BTC
So I'm still feeling bullish on crypto. I'm watching this wedge on BTC, anticipating a break to the upside. But as time goes on, the wedge looks weaker and weaker. I'm starting to think it will more likely break down, and flush out a bunch of the people who have opened longs in the past week. But after everyone gets stopped out, I'm sure the market will continue its epic rally to the upside!
As for targets, I'm not really sure. The blue area is just a range that looked interesting to me when I zoomed out, but the actual size is very hard to predict. I added an example trade you could make. You could aim for a much higher target if you want. Maybe we will even do another 40% rally (I wish). I think the market is more likely to go up than down over time, so if you go long I think the odds are in your favor. But make sure your reward is higher than your risk too, to help put the odds more in your favor.
That's all for now, please consider sharing if you got value out of this analysis. And don't forget to leave a thumbs up and follow.
I do technical analysis as a hobby. I like to learn more about markets and share my ideas with other people. But when it comes to real trading, I have algorithms to watch the markets for me 24/7. If you want more info, see my signature.
Cheers!
As for targets, I'm not really sure. The blue area is just a range that looked interesting to me when I zoomed out, but the actual size is very hard to predict. I added an example trade you could make. You could aim for a much higher target if you want. Maybe we will even do another 40% rally (I wish). I think the market is more likely to go up than down over time, so if you go long I think the odds are in your favor. But make sure your reward is higher than your risk too, to help put the odds more in your favor.
That's all for now, please consider sharing if you got value out of this analysis. And don't forget to leave a thumbs up and follow.
I do technical analysis as a hobby. I like to learn more about markets and share my ideas with other people. But when it comes to real trading, I have algorithms to watch the markets for me 24/7. If you want more info, see my signature.
Cheers!
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