BTCUSD working its way to the end of a massive wedge formation has been generally a fairly standard retracement. Looking at the final stages of the consolidation it is difficult to predict when exactly it will make a bottom but at some point and possibly even after an initial rally break above the wedge formation, it will probably plant a lowest low for the year. This is generally the case with Bitcoin and infact most securities behave this way. A final shakeout of weak hands drives the price point to an area that becomes irrisitable to sidelined buyers and a new rally kicks in to high gear. Once the up trend is confirmed the FOMO draws in tthe herd and we will be off to the races...
Happy trading and if your Canadian, Happy Thanksgiving.
Happy trading and if your Canadian, Happy Thanksgiving.