Bitcoin - Apex of the Falling Wedge. A bullish reversal.
Updated
The Price is moving closer to Apex of The Falling Wedge Pattern. What tends to happen is that volume diminishes closer to the peak. Volume is an essential part to confirm breakout from The Falling Wedge Pattern. Without an expansion of volume, the breakout will lack reliance and be more vulnerable to fail. Stochastic RSI indicator is showing oversold position which is supporting buy momentum. It is critical to pay attention to volume at the moment.
Moving Averages are supporting upward movement in the longer term.
Trading Information:
Buy: above 9,800
Partial Profit Targets: 10,500 / 10,800
Main Profit Targets: 11,300 / 11,800
Rest should be left for the longer run.
Stop-loss: 8,900
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!
Things to Remember:
DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
Moving Averages are supporting upward movement in the longer term.
Trading Information:
Buy: above 9,800
Partial Profit Targets: 10,500 / 10,800
Main Profit Targets: 11,300 / 11,800
Rest should be left for the longer run.
Stop-loss: 8,900
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!
Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
Trade active
Price broke upwards.Note
if you are wondering why fibonacci retracement levels were involved in this chart? If you have been following my twitter feed you might have noticed my posts about Wave 2 retracement levels. Here's updated chart:
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