Bitcoin: Previous Target Hit! Setup for next move! Long

Bitcoin / DollarBitfinex

Description

⋅ Nov 11, 2018 7:12 PM

Hello, its Artem Shevelev again!
Hope you having fun, and enjoy profits from previous move, check it:

And for this move, as expected we have bullish divergence from 6377$ level and now price need to breakout Descending Wedge pattern to make another swing up:

Stochastic RSI showing Bullish Divergence
RSI showing Bullish Divergence

Good Luck!

Trade closed: target reached

⋅ Nov 12, 2018 7:53 AM

Comments

ATCG

⋅ Nov 12, 2018 9:49 PM

Agree. Big picture could look like this.

FrederickDupont

⋅ Nov 12, 2018 8:50 PM

Don't touch Bcash

WBM_Team

⋅ Nov 12, 2018 4:02 PM

Thanks for sharing. We believe BTC will reach $590 000 by March 2021 (without institutional money). Here is why.

TheEWGuy

⋅ Nov 11, 2018 7:20 PM

is reverse wedge legit?i mean contracting on top and expanding down?

ArShevelev

⋅ Nov 11, 2018 7:40 PM

@abid1986, it is already played out

GoldenRatioTA

⋅ Nov 11, 2018 8:26 PM

@abid1986, it is legit. it is also known as the megaphone pattern

TheEWGuy

⋅ Nov 11, 2018 8:42 PM

@MRZSKV, I have never seen upside down megaphone pattern..

GoldenRatioTA

⋅ Nov 11, 2018 8:44 PM

@abid1986, only seen it in cryptos, tbh. Never on FX or stocks. However, it was there and, as @a.shevelev002 said, it did play out...