Yesterday, H1 timeframe wedge was broken down and continued the short-term downtrend.
A little tip, price range after the breakout, will be approximately equal to the price range during accumulation
So after getting out of the wedge , price reaches $18000 - $18600
Why is the H1 frame support so large?
Depending on each person's school, the drawing style will be different. Personally, I draw resistance and support zones based on supply and demand zones. The longer the wick, the larger the price range
if the price falls off $18000, it will continue to decrease to $17500 - $17700
The nearest support 17k5 - 17k7
For targets, you can review The Corrective Wave for BTC - Running Flat in my profile
A little tip, price range after the breakout, will be approximately equal to the price range during accumulation
So after getting out of the wedge , price reaches $18000 - $18600
Why is the H1 frame support so large?
Depending on each person's school, the drawing style will be different. Personally, I draw resistance and support zones based on supply and demand zones. The longer the wick, the larger the price range
if the price falls off $18000, it will continue to decrease to $17500 - $17700
The nearest support 17k5 - 17k7
For targets, you can review The Corrective Wave for BTC - Running Flat in my profile
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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.
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.