📊#BTC Rising Wedge📉
🧠From a structural perspective, we started to fall after building a short structure near the blue resistance zone and the downward trend line. Because it is a downward trend line at the daily level, we need to be wary of a deep pullback of at least $5,000+.
The first support area can be watched around 82,662-83,800.
The second support area can be watched around 81,112-81,628.
➡️From a graphical perspective, the previous 4-hour upward trend has ended because a classic rising wedge model has been formed, and we generally fall according to this model.
➡️From a cyclical perspective, the daily downward trend may be coming to an end. Because we are currently in the daily support area and have been consolidating here for a long enough time, a healthy pullback is a good time for us to participate in long trades.
Let's take a look👀
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BTCUSDT.P
🧠From a structural perspective, we started to fall after building a short structure near the blue resistance zone and the downward trend line. Because it is a downward trend line at the daily level, we need to be wary of a deep pullback of at least $5,000+.
The first support area can be watched around 82,662-83,800.
The second support area can be watched around 81,112-81,628.
➡️From a graphical perspective, the previous 4-hour upward trend has ended because a classic rising wedge model has been formed, and we generally fall according to this model.
➡️From a cyclical perspective, the daily downward trend may be coming to an end. Because we are currently in the daily support area and have been consolidating here for a long enough time, a healthy pullback is a good time for us to participate in long trades.
Let's take a look👀
🤜If you like my analysis, please like💖 and share💬
BTCUSDT.P Trade active
Trade closed: target reached
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⚡️Timely updates and VIP consultation on Telegram: 👇
t.me/+9dh7Ug_iQ2lkMmM0
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
wolf20
👇BYBIT 👇
WOLFKING
👇BINANCE👇
O3D948JZ
t.me/+9dh7Ug_iQ2lkMmM0
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
wolf20
👇BYBIT 👇
WOLFKING
👇BINANCE👇
O3D948JZ
Related publications
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.