Hello traders,
Rising wedge pattern formed on the 2 hour chart, these have the opposite resolution of a falling wedge which is bearish for this pattern.
The falling wedge from $41,100 I've posted prior played out with the 1-5 wave count, so I'm going to do the same thing but reversed.
Stay safe and have a great weekend, I'll post on Monday with an update.
👍
Rising wedge pattern formed on the 2 hour chart, these have the opposite resolution of a falling wedge which is bearish for this pattern.
The falling wedge from $41,100 I've posted prior played out with the 1-5 wave count, so I'm going to do the same thing but reversed.
Stay safe and have a great weekend, I'll post on Monday with an update.
👍
Trade active
So far everything is going according to plan.
If $45,000 doesn't hold buyers will likely be trapped and be forced to sell lower or end up liquidated.
If this 5 wave count plays out we could see $37,400 within the next 7 days.
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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.