BTCUSD. Falling wedge is forming by the Libra's hearings date
Key notes:
- If Bitcoin broke down the uptrend line and a median of a downtrend channel, it will probably go down under 7k fast.
- For now, we have a falling wedge and decreasing volumes inside it, which can indicate that sellers are exhausing.
- I'm holding longs from ~8280 with tight stop, until wedge isn't broke. In a good case if BTC doesn't fall down, wedge will be resolved with target between 9k - 9.4k.
Comment:
Comment:
Selling volumes are still decreasing, I'm waiting for a confirmation of breakdown of the trend lines to close the trade with loss.
Trade closed: stop reached:
BTC looks weak and goes to 6.5k, it seems
Comment:
The level still can hold, but the risk of breakdown and free fall is too high
Trade active:
Level seems to be hold. Looking for the next movements. This week is decisive.
Comment:
Also there is MA240 daily, which supports the price here
Comment:
For now, it looks like it was a fake breakdown. Target is the same: 9k
Trade closed manually:
BTC couldn't recover from here. It's better to close the longs, because another drop can occur on a thin market during the weekend
