Long BTCUSD Long - might be forming continuation wedge
Updated
Good entries might be found on confluences.
Waiting on something substantial, right now we are in nowhere land. We might break down further or we might just bounce in tightening range forming wedge .
Selling holdings right now is as risky as holding them. Big chance they want to shake the tree and watch the weakest leaves fall.
Lets not guess what will happen. Lets wait for clear pattern with confluence and divergence signal. Is that too much to ask? Maybe.
Breakout to the upside from wedge could lead us way past 10k maybe even starting new bull market.
Patience pays they say.
Long term view. Symmetrical triangle continuation near completion?
Waiting on something substantial, right now we are in nowhere land. We might break down further or we might just bounce in tightening range forming wedge .
Selling holdings right now is as risky as holding them. Big chance they want to shake the tree and watch the weakest leaves fall.
Lets not guess what will happen. Lets wait for clear pattern with confluence and divergence signal. Is that too much to ask? Maybe.
Breakout to the upside from wedge could lead us way past 10k maybe even starting new bull market.
Patience pays they say.
Long term view. Symmetrical triangle continuation near completion?
Note
Note
Also there is a huge GAP on BTC CME Futures that will be closed for sure like all the previous ones. Question is when.Note
Update: I can see ascending triangle being formed on smaller timeframes so we either break upwards and continue forming falling wedge on daily or we can always break downwards although i think it is unlikely right now.Note
Update: So we broke out upwards. Now it is quite hard to predict exactly where will be the top but i don't think we will breakout and just go without any consolidation on daily. It makes sense that before the major run volatility takes out a lot of people by surprise so another leg down after reaching r1 and trendlines resistance is more than likely in my view.Note
So the gap is closed once again :)Note
Update: We are rejecting from confluence: upper trendline of the wedge that is forming on hourly timeframes (if that is in fact a wedge), and rejecting from pivots: R1 hourly and R2 on minutes. Also we have formed descending triangle which is usually bearish pattern on top of the move. I expect grinding down the next couple of days to 8500 with possible 8100 wicks.
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.