We're in another wedge! Buy in and set a tight stop loss
Updated
The Wedge Master is at it again. It seems, we're in another wedge, around 4am-12pm PST we will have huge movement again. With crypto, it is hard to predict which way wedges will break out. So my technique has been to buy as the wedge closes in and set a tight stop loss about 1-2% under the line of my wedge. Here I am anticipating more down to retest our previous low at 3200. We might possibly get a small inverted bart back up before the bear market continues to retest lows. If so, I'll take the profits as soon as the price spikes. No 6k hopium smoking for me just yet.
Note
I beleieve the wedge pattern is still valid. The bottom is still the same but the wedge's top line has broadened a little, which means big movement postponed for another 12-24 hours. creating new chart now.
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.