Bitcoin Analysis [January 28, 2022]
Updated
BITCOIN analysis update (Daily Chart)
(Falling Wedge)
Focusing on current price action, we have a Falling Wedge.
We will be expecting price to break resistance line to the upside, do a retest on the resistance line or at a previously bullish injection zone, then continue its upward movement to hit take profit targets 1 to target 4 where we will be expecting good reactions respectively.
This analysis is invalidated if price drops and closes below support line.
Note that its upward movement to hits respective targets won't be a straight push. Equally have in mind that the targets represent zones and not just a particular price.
Kindly note this is not a signal. This article is for educational purpose and not a financial advice. As we know, the cryptoverse is a highly volatile ecosystem. Do your due diligence.
(Falling Wedge)
Focusing on current price action, we have a Falling Wedge.
We will be expecting price to break resistance line to the upside, do a retest on the resistance line or at a previously bullish injection zone, then continue its upward movement to hit take profit targets 1 to target 4 where we will be expecting good reactions respectively.
This analysis is invalidated if price drops and closes below support line.
Note that its upward movement to hits respective targets won't be a straight push. Equally have in mind that the targets represent zones and not just a particular price.
Kindly note this is not a signal. This article is for educational purpose and not a financial advice. As we know, the cryptoverse is a highly volatile ecosystem. Do your due diligence.
Note
Target 1 is hereby considered a hit ✅Trade active
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