BTC - DEALING WITH POSSIBLE DESCENDING WIDENING WEDGE - CM101
Updated
BTC / USD TA
Today we are presented with what is clearly a widening wedge forming on 4H Chart. What does this mean? It means that if within next day or two we don't see substantial break above resistance of $12,000 we can easily end up correcting back towards $9,000 zone or potentially lower.
Volume has been picking up at times however bears seem to be wanting to push it down towards $11,500 where they have control.
Keep an eye on resistance levels for next few hours, days.
Today we are presented with what is clearly a widening wedge forming on 4H Chart. What does this mean? It means that if within next day or two we don't see substantial break above resistance of $12,000 we can easily end up correcting back towards $9,000 zone or potentially lower.
Volume has been picking up at times however bears seem to be wanting to push it down towards $11,500 where they have control.
Keep an eye on resistance levels for next few hours, days.
Comment
Just to be clear this pattern is overall bullish, but not when it's only 20% - 40% into pattenRelated publications
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