BTC Rising Wedge Long

BITFINEX:BTCUSD240

Bitcoin / DollarBitfinex

Description

⋅ Jan 10, 2019 11:34 AM

Broke to the downside with a target of $3740
thepatternsite.com/risewedge.html

Comment

⋅ Jan 10, 2019 1:26 PM

If we hit (2) 0.618 fib possible bull targets?
Wave 1 3215 4384
Wave 2 4384 3662
Wave 3 3662 5553
Wave 4 5553 5107
Wave 5 5107 6276
Wave A 6276 5829
Wave B 5829 6105
Wave C 6105 5658

Comment

⋅ Jan 11, 2019 6:28 AM

Target achieved ~ question is now where?
Upthrust using similar targets as above.
Repeat of 6K pattern.
Or another leg down.
Guess you could say in a state of impasse!

Wedge

Comments

W3rN0tAl0n3

⋅ Jan 10, 2019 1:35 PM

is target 3740, 0r 3660 in your opinion?

zippy1day

⋅ Jan 10, 2019 1:40 PM

@jeremy.jacques79, The wedge target $3740, however in order to complete the perfect 61.8% retracement wave (2) $3662 needs to be achieved but nothing is set in stone with bitcoin!

W3rN0tAl0n3

⋅ Jan 10, 2019 11:45 AM

No double bottom target huh?

zippy1day

⋅ Jan 10, 2019 11:46 AM

@jeremy.jacques79, Possible but target is the most likely percentage wise!