As you can see there's a wedge forming on the 4H. Many traders thinking 
XBTUSD will either go straight to 4K or to 10K in the next couple weeks are delusional. I have reason to believe it will trade sideways within the means of this wedge, until inevitably progressing into the next market cycle, which in BTCUSD's case will most likely be down.
Will it be down to 4K? Who knows. An 80% retrace seems plausible as it has happened on numerous occasions in the past.
Guess there's only one way to find out
-Calvin
XBTUSD will either go straight to 4K or to 10K in the next couple weeks are delusional. I have reason to believe it will trade sideways within the means of this wedge, until inevitably progressing into the next market cycle, which in BTCUSD's case will most likely be down. Will it be down to 4K? Who knows. An 80% retrace seems plausible as it has happened on numerous occasions in the past.
Guess there's only one way to find out
-Calvin
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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.