Bitcoin - a huge falling wedge is broken
On the Bitcoin chart, on the daily timeframe, starting in June 2022, a pattern was formed - a falling wedge.
To be honest, I don't respect technical analysis patterns and think that only some of them make any sense. The wedge pattern is among them. If you analyze it on history, this pattern has a high win rate on higher timeframes.
I personally will not trade it, I have a different style of trading, quantitative trading (indicators), but it may be educational and interesting for you. Plus it is another prerequisite for continued growth.
Bitcoin broke the falling wedge. At the same time, we see that the price closed above the upper boundary.
So that is a positive signal. Closing below would be a negative signal.
🚀According to the rules, target = height = 42% (26k)
All my 6 years of trading experience, knowledge, developments, and indicators I share them here in ideas for free. In return I will ask you just follow me, like this post and leave a nice comment, it will allow me to move faster and make more useful content! 💚💚💚
To be honest, I don't respect technical analysis patterns and think that only some of them make any sense. The wedge pattern is among them. If you analyze it on history, this pattern has a high win rate on higher timeframes.
I personally will not trade it, I have a different style of trading, quantitative trading (indicators), but it may be educational and interesting for you. Plus it is another prerequisite for continued growth.
Bitcoin broke the falling wedge. At the same time, we see that the price closed above the upper boundary.
So that is a positive signal. Closing below would be a negative signal.
🚀According to the rules, target = height = 42% (26k)
All my 6 years of trading experience, knowledge, developments, and indicators I share them here in ideas for free. In return I will ask you just follow me, like this post and leave a nice comment, it will allow me to move faster and make more useful content! 💚💚💚
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