Bitcoin RISING WEDGE against BULL Flag
Updated
Hey guys Bitcoin presently surroundings with lots of speculations both fundamentally and Technically.
There is no doubt about it we have huge BULL FLAG forming presently that got lots of people talking. Where as there is still another setup forming inside this BULL FLAG in the form of RISING WEDGE.
Well this analysis stands to make things clear, even if the wedge happen to win this battle that does not make the BULL Flag pattern invalid but even making it to look stronger.
If price goes in the direction of the rising wedge which has already broke down will lead the price down to our target in the range of 3400$-3500$ which equivalent to 78.6% fib level of the previous impulsive upside move.
Moreover, if price decided to shut down the wedge and breakthrough the important resistance level at 3990$ then this will signal the long waited Bullish move with immediate target at 4800$-5000$.
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There is no doubt about it we have huge BULL FLAG forming presently that got lots of people talking. Where as there is still another setup forming inside this BULL FLAG in the form of RISING WEDGE.
Well this analysis stands to make things clear, even if the wedge happen to win this battle that does not make the BULL Flag pattern invalid but even making it to look stronger.
If price goes in the direction of the rising wedge which has already broke down will lead the price down to our target in the range of 3400$-3500$ which equivalent to 78.6% fib level of the previous impulsive upside move.
Moreover, if price decided to shut down the wedge and breakthrough the important resistance level at 3990$ then this will signal the long waited Bullish move with immediate target at 4800$-5000$.
Thanks for reading through my post and join our telegram to follow up on many of our trades calls.
Do share your thougths about it and support my post with your LIKES.
Thanks
Trade active
Trade active
Trade continue, we had first leg down and the possibilities for more dumping is still very high.Trade active
The whole market setup still look to go down, we must focus with this with care. If 3800 break we may see sharp market drop to complete the last leg of wave iii before rising back up for retracement.Trade active
Hi guysAs we can see Bullish sentiment has spread all over the market which gave me some possible feeling for little dump before major move commence.
From my chart I spotted 3 different BULLISH setups
Bullish Crab
Bullish BAT
Inverse Head and Shoulder.
With all these above setup at least we should see big rise in BTC.
Bullish Crab formation is completed with almost all its target been achieved, this give good chance for upside moves.
Trading Plan:
Do not FOMO unless BTC break the yellow resistance(3888$) , if this happen we can enter trade with a pullback.
OR
If market tends to drop we can start to ladder down our Long trades from 3685$ down to 3385$ with stop loss targeting at 3100$.
Overall target is huge at least 4800$-5400$
Trade active
Trade active
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