smallreddude1

Bitcoin, ascedning wedge in possibly a bigger ascending wedge

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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3
So bitcoin currently riding on low volume , I see an ascending wedge after already making an ascending wedge inside a much bigger (potential) ascending wedge . I'm looking for a retrace to at least 6400. It is the weekend after all. Volume is usually pretty low during the weekend. I want to see bitcoin make it to the bottom of the much bigger ascending wedge forming but 6400 seems likely. Macd showing weak momentum right now and it looks like short term macd (bottom) trend will break and drop us, confirming the ascending wedge . Look out for that. Long term macd (top) is showing the moving averages getting closer, a sign of weak volume . I will update later. Good luck traders.
Trade closed: target reached: My target was reached, I'll update once I get some more data

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