Bitcoin's short term plan revealed?
I've been around a couple of months on TV now. Learned a bit about TA and I think I found out what BTC's short term plan is.
Looking at this 1D BTCUSD chart, our first target seems to be around 6900 dollar. Our second target is to be found around 8600 dollar. Why I think this? As you can see I've drawn 3 descending wedges. The first wedge brought us from the lowest point 6k to 12k, an increase of 100%. The second wedge brought us from about 6,5k to 10k. This is an increase of about 50%. The target of the last and current wedge we're in right now, is around 6900. If this current wedge brings us up 25% higher, we will reach a price of about 8600 dollar, exactly the price at the resistance line of the big blue wedge in play. What will happens next nobody knows, but I hope the big blue wedge will break out to the upside!
Please let me know what you think about this idea :)
This is no financial advice, just my opinion about our beloved crypto BTC!
Looking at this 1D BTCUSD chart, our first target seems to be around 6900 dollar. Our second target is to be found around 8600 dollar. Why I think this? As you can see I've drawn 3 descending wedges. The first wedge brought us from the lowest point 6k to 12k, an increase of 100%. The second wedge brought us from about 6,5k to 10k. This is an increase of about 50%. The target of the last and current wedge we're in right now, is around 6900. If this current wedge brings us up 25% higher, we will reach a price of about 8600 dollar, exactly the price at the resistance line of the big blue wedge in play. What will happens next nobody knows, but I hope the big blue wedge will break out to the upside!
Please let me know what you think about this idea :)
This is no financial advice, just my opinion about our beloved crypto BTC!
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