Just having a coffee break in between my work duties. The Penguin indicator again is sitting on the chart. I can imagine we are in a danger zone here with 2 possible scenarios. I am presenting the more likely one. Weak confirmation of this rising wedge (bearish pattern) and sudden, rapid move to the downside. If current target won't hold, $20k will turn into resistance. For now if this isn't a fakeout (also possible), we are looking at sub 20k as target zone for BTC within the next 3-4 weeks. This move could be accelerated (affected) by external factors.
Trade closed: target reached
tradingview.com/chart/C1WuNHGK/?symbol=BITSTAMP:BTCUSDNo LONG until price locks daily above $22k (atm)
Note
Note
$18363 😶
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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.