umutaktepe98

BTCUSD Rising Wedge Possible Breakout and Pullback

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD seems unstoppable after breaking 50K price levels. The price is closer to 60K levels than we can think of. However, I think this rally needs a bit pullback for its health in order to step up to 60K and beyond. Pullback signals is coming right now. I analyzed where a possible pullback could bring us back. I think there are second price target which BTCUSD can stop by. I do not think BTC will go down below those price targets. I expect BTC to bounce off from the first price target which is very likely and bullish scenario. Here are the targets.
Comment: Price has been rejected by support of rising wedge. So far so good
Comment: Price has broken the rising wedge downwardly, but volume coming in is not that big and breakout has not been confirmed yet
Comment: Price seems to return from exactly fibonacci 0.236 as I predicted

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