We can look back at the previous wedge to see a similar re-test before a large move to the downside. I will wait for a few more confirmations and then personally I will be layering shorts between 6700/6600.
Short-term & intraday I am looking for scalps to the upside but I am on the look out for a breakdown of this rising wedge in the long-term, which I can see breaking down to the bullish targets shown on the chart.
Analysing yesterdays breakthrough of the current resistance, we can see there is a clear Bull Flag forming. The dotted yellow horizontal line shows the previous broken support which will most likely be our new resistance.
If you think there is anyway I could improve my TA, please leave a comment!
We have seen 5860 be retested 4 times, becoming weaker with each touch. Basing off this, I believe that XBT hasn't stopped falling yet and will dump soon.
