I've tried to look at the different possible scenarios for BTCUSD (Coinbase). As I see it we BTC is right now running within two short term falling wedges, a middle term and a possible long term.
The middle and long term falling wedges are having the same upper resistanceline from ATH. That resistance has to be broken before we can confirm a long term bullish trend.
But at the moment we are at the bottom at these middle and longterm falling wedges and therefore its plausible that we can break the support lines. Here we have the to short term wedges to guide os - and as I see it we should have confirmation within the next two weeks. And we could see BTC crawling slowly sideways with a slightly downward trend the next 14 days. Before either breaking out down or up. But of course we could also have confirmation short, middle and long already within the next couple of days.
What's your thoughts?
The middle and long term falling wedges are having the same upper resistanceline from ATH. That resistance has to be broken before we can confirm a long term bullish trend.
But at the moment we are at the bottom at these middle and longterm falling wedges and therefore its plausible that we can break the support lines. Here we have the to short term wedges to guide os - and as I see it we should have confirmation within the next two weeks. And we could see BTC crawling slowly sideways with a slightly downward trend the next 14 days. Before either breaking out down or up. But of course we could also have confirmation short, middle and long already within the next couple of days.
What's your thoughts?