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RSI-Guy
Jul 22, 2019 11:06 AM

So Many Wedges.. Short

Bitcoin / U.S. dollarBitstamp

Description

Pretty self-explanatory.

If we close beneath the current rising wedge support then we should anticipate a correction down on to the base support of the encompassing wedge pattern (approx $8,900).

If we somehow manage to find new bullish support - perhaps from the soft launch of Bakkt today - then we'll need to see a strong daily close above $10,700 to confirm a bullish breakout from the encompassing wedge pattern.

First point of resistance would likely be around $11,890 if the upside move transpired.

Thanks
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