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Welcome to this quick BTC update. BTC is still at the same range of
29K level.
It is forming a rising wedge-like structure in the daily time frame and currently, at the lower trendline of the wedge. If it breaks down from here then expect a big dump in the next month.
If it holds the lower trendline and bounce then we might see another small pump up to
31K-$32k but this scenario is less likely IMO.
We have strong support at around the $FWB:25K level. So there is a high chance that we visit the $FWB:25K level before any big upside move.
What do you think about this?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Welcome to this quick BTC update. BTC is still at the same range of
29K level. It is forming a rising wedge-like structure in the daily time frame and currently, at the lower trendline of the wedge. If it breaks down from here then expect a big dump in the next month.
If it holds the lower trendline and bounce then we might see another small pump up to
31K-$32k but this scenario is less likely IMO.We have strong support at around the $FWB:25K level. So there is a high chance that we visit the $FWB:25K level before any big upside move.
What do you think about this?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Note
BTC breaks down the rising wedge as expected and going perfectly according to the chart. Hope you took seriously my last update and save yourself in this dump.
In LTF, we have small support around the $28k-$28.3k level so we might see some small bounce up to the
29K-$29.5k level so do not try to short here. Wait for a small bounce to open a new short position. My main target is $FWB:25K or might see lower (Depending upon the breakout) by the end of September.
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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.