BTC bounced back from the support level, not exactly from the support but close to it. If you have entered into BTC at around the 28.8k range then you are around 5% up without any leverage. Currently, BTC has strong resistance at the 30.2k level and if BTC manages to break above this level then we may see some good moves coming in. Rejection will be disappointing but it can give another chance to re-enter at the lower support level (28k).
I am holding a small portion of BTC and if it gets rejected back to 28k then I'll accumulate more. A rejection and close below 28k will be an exit sign.
Nice idea. Though it seems unlikely that it's a falling wedge currently. Too many touches at 28.6k. I'm more of the beliefs that it's a right triangle. At any rate, a case can be made for accumulation at this levels, despite the bearish overalls. Though certainly we're seeing equally heavy selling and resistance, currently. Let's see what happens when we get to 27.5k.
Dexter_The_Trader
⋅
@timbrecoin1, I agree. BTC must break above the 30k resistance.