Bitcoin and Ethereum trading in falling wedge
Updated
BTC and ETH are still trading within their respective falling wedges (red lines), BTC is central for the whole crypto sentiment at the moment. I expect bitcoin to move towards 9,200 dollars and quickly fall back down towards 8.4k in the coming days. This thought is motivated by the movement of BTC price within a potential falling wedge and ABC correction that will hopefully precede a wave upwards.
Summary: (timeframes subject to personal interpretation)
-short-term: bullish
-medium-term: neutral
-long-term: undecided (depends on the success of this)
Best of luck trading,
Benji
Summary: (timeframes subject to personal interpretation)
-short-term: bullish
-medium-term: neutral
-long-term: undecided (depends on the success of this)
Best of luck trading,
Benji
Trade active
Completing the Y wave within the larger corrective B wave right now, watch out for a consolidation period at the 9.2k price mark and a subsequent retest of the 8.4k lows. Alternatively, we could see the price rise to 9400 (the top of the rising wedge), this, however, is rather unlikely.Trade active
Invested most of my capital in the buy zone I had outlined a week ago, the analysis was practically spot on! Happy trading!
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