lwils2169

Bitcoin Forming Ascending Broadening Wedge

BYBIT:BTCUSD   None
We're testing the 45k levels as we progress into this ascending broadening wedge. My approach to this is depicted by the path arrows. I will be longing a confirmed breakout and shorting a confirmed breakdown. However, since we are relatively young in the pattern's development, we could see the price bounce between these levels a few more times. Due to this, a rejection from the resistance will be my signal to enter a short with TP aimed at the support level. If we do go back down to test support and get a bounce, I will be longing this up the resistance again. In each instance, you can sell 50% of the contracts at the respective levels and set a trailing SL just in case the breakout or breakdown does occur, that was you're not missing out of the major pump/dump and can potentially make much higher profits.
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