Long

BTC

Updated

BTC is forming a falling wedge on the daily timeframe.

Note

If we zoom in on the daily timeframe we can see another, smaller falling wedge that would bring us to resistance trend of the (daily) falling wedge

Note

On the hourly timeframe we have a broadening descending wedge
which would bring us to the resistance trend of the (smaller) falling wedge
If the broadening descending wedge plays out it is very likely we will break resistance of the (smaller) falling wedge.

Note

We are still in the broadening descending wedge
We have a bullish divergence which could lead us to resistance trend of the broadening descending wedge and likely followed by a breakout

Note

We have a breakout

Note

We have closed above the resistance trend of the smaller falling wedge and it's now in play
On the hourly tf we are forming a broadening descending wedge again

Note

We might be forming an inverse Head & Shoulders that could lead us to our $7750 target

Trade active

We broke out of the falling wedge on the daily

Note

BTC on the hourly

Note

I posted a new-updated version of the daily chart

Grimland

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