BTC - Falling wedge - bullish pattern
Updated
The falling wedge pattern is a continuation pattern formed when price bounces between two downward sloping, converging trendlines. It is considered a bullish chart formation but can indicate both reversal and continuation patterns
As always you will need to wait for a daily close above the trend line.
P.S. wait for a potential pull back to retest the broken resistance.
your stop-loss order should be placed within the wedge, near the upper line.
As always you will need to wait for a daily close above the trend line.
P.S. wait for a potential pull back to retest the broken resistance.
your stop-loss order should be placed within the wedge, near the upper line.
Comment
breakout occurred on 4h candleComment
Comment: breakout happened on daily candle and closed above the trend line, the trendline is broken.
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