Good morning traders,
Bitcoin made an attempt to break the rising wedge but found support and ended up retesting the wedge which I think is normal because when something breaks a pattern it usually has a retest before continuing.
I've circled the two area's of breakdown and the retest locations. (yellow circles)
Golden pocket (0.618 fibonacci) at $42,513 is an area of interest.
Break below this level and we probably retest the downtrend from ATH's but a bounce from this level should be expected even if it's short lived.
Here's a possible 5 wave count if we do end up breaking down and falling lower.
Please like/comment to show support, thank you.
👍
Bitcoin made an attempt to break the rising wedge but found support and ended up retesting the wedge which I think is normal because when something breaks a pattern it usually has a retest before continuing.
I've circled the two area's of breakdown and the retest locations. (yellow circles)
Golden pocket (0.618 fibonacci) at $42,513 is an area of interest.
Break below this level and we probably retest the downtrend from ATH's but a bounce from this level should be expected even if it's short lived.
Here's a possible 5 wave count if we do end up breaking down and falling lower.
Please like/comment to show support, thank you.
👍