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VasilyTrader
Jul 10, 2019 9:29 AM

BITCOIN: Trading Plan Short

Bitcoin / U.S. dollarBitstamp

Description



Bitcoin is trading inside a rising wedge pattern with clear weakening bullish momentum.

Most likely the price will reach a supply zone around 1360 and drop under pressure of sellers.

Bearish breakout of a rising wedge is a good trigger for confirmation traders.

Good luck!
Comments
sharpei
I believe we have seen the bottom in BTCUSD, and here is why: I think we've seen the bottom. Just took a look at the daily chart and believe we could be seeing the pull back in the W4 pattern (has all the earmarks...the lengthy formation/channel; perfect 1.4 pull back; and a double flat top-channel- on 10DA), which has remained well above the the 50; both having supported the upward movement throughout the move.
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