Since BTC is heading back down to ultimate low at 3120 area, there is possibility of building a double bottom. The falling wedge supports the expectation of an upcoming uptrend since it is generally a bullish signal. for the double bottom to be confirmed BTC needs to break the resistance area at 4200-4250. If this happens, double bottom is confirmed an we should see a significant trend reversal. Falling wedge can be broken downwards by wicks, which will hopefully hit my buying zone, laddered from 3180-3240.
BTCUSD H4 Correction up. Checkout the idea detail's and all the update's for the complete picture.
hypercraft
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speculative
Pantok
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@hypercraft, Sure it is, but i dont see it coming down to 2.8k or even lower.
200 wma can be penetrated for a wick down, but will most likely support BTC.