BTC short term strategy
Updated
Hi everyone
this is quick review of probable strategy on Bitcoin chart:
BTC is now moving into a tinny bullish wedge on 4H timeframe chart and hit
top and bottom of the wedge several times.
if the price could manage to break above the wedge line we can expect
more upward pressure but in the bigger view the market still bearish
so near term target between 52K to 54K is expected.
Enjoy the market
this is quick review of probable strategy on Bitcoin chart:
BTC is now moving into a tinny bullish wedge on 4H timeframe chart and hit
top and bottom of the wedge several times.
if the price could manage to break above the wedge line we can expect
more upward pressure but in the bigger view the market still bearish
so near term target between 52K to 54K is expected.
Enjoy the market
Comment
remember that important point... as I mentioned in bigger view we still in bear market and as you can see on my chart below price is moving into a huge triangle but from intraday charts we can see price is moving into a small descending wedge. and closing below the wedge can lead the price downward more.Trade active
price is still moving into the wedge. below the 48200 resistance level in bear side yet. lets see which side of the wedge cross firstComment
I'm watching carefully 45100$ key level. price can bounce back upward strongly or more drop that lead us around 43000$ key level.Trade active
finally bounced upward from the bottom line of the wedge and broke the top line now we can expect the price hit between 52K and 53K resistant levelsTrade closed: target reached
as expected BTC didn't go above our strong resistance around 52k. new update will come soonComment
see my new update here
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.