Zoomed out view of 
BTCUSD on weekly view. Macro inverted head and shoulders with a falling wedge. Chart also has previous trend channels.
On a macro basis, I think this is bullish. My guess is that we might get rejected by the 8 week VWAP and retest the prior trend line at ~$88k.
However... I could also see this getting momentum and breaking out of the falling wedge. I tend to err on the side of caution here and with an election about to happen, I don't plan on scaling back in until ~February.
Keeping a close eye on this one. If it does breakout of the wedge to the upside, it should be a very quick move to the $130k+ range.
BTCUSD on weekly view. Macro inverted head and shoulders with a falling wedge. Chart also has previous trend channels.On a macro basis, I think this is bullish. My guess is that we might get rejected by the 8 week VWAP and retest the prior trend line at ~$88k.
However... I could also see this getting momentum and breaking out of the falling wedge. I tend to err on the side of caution here and with an election about to happen, I don't plan on scaling back in until ~February.
Keeping a close eye on this one. If it does breakout of the wedge to the upside, it should be a very quick move to the $130k+ range.
Trade active
This is still intact but taking longer than expected. Still bullish especially with recent action over the last few days. Currently increasing position size.
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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.