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BTCUSD - Rising Wedge - Re-test 33k-ish

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It looks like we are going to probably go test the bottom of our accumulation area in BTC here. 33k looks like it aligns with this rising wedge break-out that we are getting.

I may be wrong, but it looks like the market makers want to go test our support below here. Buyers, will you step in?

Thanks!
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snapshot If this idea is correct - it looks like we go up and test the trendline at 38-39k before dropping.
Note
snapshot something to consider is that it did bounce off of the previous downtrend
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snapshot and there is some confluence for this bearish idea.
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snapshot tehre you go - quad confluence for upper 32k's to 33ks.
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snapshot 30K looking like a likely destination, too.
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snapshot oversold bouncing at the previous downtrend - I guess that you could consider this a 618 bounce, too.
Note
youtube.com/watch?v=HPCfANA3nz4
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snapshot Very close to the target. I'd keep the stop very tight from here if you are short.
Trade closed: target reached
snapshot This may be it for this correction - came pretty close to the target.
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Certain take profits if you are short. We may still visit lower levels - but this S/R area has confluence with a 4.236, and I think that is solid. This was also the 618 pocket area.
Note
snapshot Pretty good chance that is it for this correction - 34.7k needs to hold, but with this confluence and how well the fibs fit - it looks good to me.
Trade closed: target reached
Alright, if I were short, I'd be taking even more profit now - the rising wedge has played out. Successful short trade. Anything else from here is bonus.
Trade closed: target reached
snapshot came within about 1% of the original target - I'd of closed my short there. Success!
Note
snapshot getting rejected at downtrend so far.
Trade closed: target reached
snapshot Lol, BTC still following that fib sequence.
Dawnchorus
Support and ResistanceWedge

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Support and ResistanceWedge
Dawnchorus

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.