Short term pain, long term gainz
Simple charting. We are forming a short term rising wedge. Continuation of the bear trend. We may bounce from 32k, we may fall out of the wedge. Price rise to test the air gap in the Ichimoku cloud but was rejected and we have fallen through the kijun and tenkan lines. We may see a bounce at just under 32k to re-test the cloud. Ultimately I think we re-test 29k, perhaps push to 27k.
Over longer time spans we can see a potential descending wedge forming, which should see us break up out of it and break ATH soon.
Over longer time spans we can see a potential descending wedge forming, which should see us break up out of it and break ATH soon.
Order cancelled
Overall idea is still in play but wedge is broken.
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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.