BTC - This is a Bullish Descending Expanding wedge .
There is also a Bullish Divergence on the RSI - Price has been falling but the RSI is rising
The first target of the wedge is the red line at 8750 - this target has been already hit .
The second target is the distance from the bottom of the wedge to the exit point * 2 .
This should reach close to the 9500 area ,
Caveats:
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BTC should not drop below 8396 or break below the top of the wedge ( the top white line ) -
if BTC breaks below the top of the wedge - then something has gone wrong and ill exit this trade at that point .
Bullish Descending Expanding wedge .
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www.centralcharts.co...ing-broadening-wedge
There is also a Bullish Divergence on the RSI - Price has been falling but the RSI is rising
The first target of the wedge is the red line at 8750 - this target has been already hit .
The second target is the distance from the bottom of the wedge to the exit point * 2 .
This should reach close to the 9500 area ,
Caveats:
---------------------
BTC should not drop below 8396 or break below the top of the wedge ( the top white line ) -
if BTC breaks below the top of the wedge - then something has gone wrong and ill exit this trade at that point .
Bullish Descending Expanding wedge .
====================================
www.centralcharts.co...ing-broadening-wedge