Gokic

BITCOIN - Wedge in progress or fakeout coming before the dump?!

Gokic Updated   
BITSTAMP:BTCUSD   Bitcoin
What a play :) We saw a nice little pump & dump, touch $9095 and rejection back down, were BTC stayed stable, for now :)

I think we have big wedge in progress, but with this control of the bulls we might see another push up to $10k or little more (fakeout outcome)
In other side there are a lot of long position made but i dont think that will happend in short term... we might see a squeeze of those positions in next couple of days and Bitcoin will have to test lower supports - we still didnt have a proper corretion, maybe it must get another HH to finish 2.wave.

Hit lhe LiKe if you like the idea :)




Comment:
BTC still in the bearish wedge. The price is climbing back and it`s in full use of a trendline, if we look 15min chart. If bulls didnt give up, we will see 9k again soon, weekend is here, usualy time for action :)
Othervise, if the 4H candle close near or under $8300, we will see some red numbers :)

Comment:
wedge still in progress as planned
Comment:
bigger picture
Comment:
at this point BTC is in a small correction... Finding support $8540 was nice to see, still some power there... (4H candle close below this point means trouble).
If we see some side ways, there is not a lot of room, 3 days max., even then or sooner, there could be new HH made at about $9350, possible bigger run, target would be $11500 - $12500, but that would mean even biger fakeout of the blue line (2012 trendline). If blue line will be broken, we will see a lot of buy/sell action :)
That could be The Final fight for the Bears & Bulls :) (for some time)
Trade closed: target reached

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