abdullatrader

Bitcoin Falling Wedge (UPDATE)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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Hello traders,

I expected a small reversal to $6,100 when Bitcoin was trading at it's $5400 support - however; it failed to hold. Now, Bitcoin is trading at the next support levels - between $4400 and $4800, plus at the support level of the falling wedge pattern.

I'll update this idea by the hour to look at reversal signs on the intra-day chart.


Best of luck,
Abdulla
Comment: 8H Chart Update:
Comment: $100 away from trading above $5,000
All charts posted are for educational purposes only - I don't sell signals or give any courses. Enjoy :)!
To my mind, it's a Short here... I still think about Sell for BTC (it's my thought of the previous week - and for now too):
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Both Coin Cap and Bitcoin arrived at bottom of triangular convergence.
Now, Can I expect that the drop is over?
What do you think about this? I want to hear your opinion.

1) Coin Market Cap

2) Bitcoin

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RIP crypto markets, destroyed by bot traders hell bent on greed
+2 Reply
Looks like it is going to $4.3k... If it does not hold, may God help us
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BTCUSD D1 Long Term EW Analysis. Checkout the idea detail's and update's for the complete picture!
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Depends on how you look at it, I guess technically you could draw a wedge I wouldn't count on it.
+2 Reply
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