Hello Traders,
Update on BTC, Bullish in the short term time frame ?
We could be forming a falling wedge, which typically is a bullish pattern.
Points to consider
- Overall there is a bull trend on the 240
- Strong support Zone at .382 Fibonacci
- Resistance at .50 Fibonacci with EMA's in conflunce
- Tightening Price action
- Volume noticeably dropping
- Stochs showing upwards momentum
- RSI testing support
BTC can break bullish in the short term if this indeed is a Falling Wedge with a potential target at around $14,222.00, Volume is dropping which is a strong indication that a breakout coming...
What are your thoughts?
Speaking of thoughts, here's some food for thought :)
"Why do you think unsuccessful traders are obsessed with market analysis? They crave the sense of certainty that analysis appears to give them. Although few would admit it, the truth is that the typical trader wants to be right on every single trade. He is desperately trying to create certainty where it just doesn’t exist.” – Mark Douglas
Update on BTC, Bullish in the short term time frame ?
We could be forming a falling wedge, which typically is a bullish pattern.
Points to consider
- Overall there is a bull trend on the 240
- Strong support Zone at .382 Fibonacci
- Resistance at .50 Fibonacci with EMA's in conflunce
- Tightening Price action
- Volume noticeably dropping
- Stochs showing upwards momentum
- RSI testing support
BTC can break bullish in the short term if this indeed is a Falling Wedge with a potential target at around $14,222.00, Volume is dropping which is a strong indication that a breakout coming...
What are your thoughts?
Speaking of thoughts, here's some food for thought :)
"Why do you think unsuccessful traders are obsessed with market analysis? They crave the sense of certainty that analysis appears to give them. Although few would admit it, the truth is that the typical trader wants to be right on every single trade. He is desperately trying to create certainty where it just doesn’t exist.” – Mark Douglas