Over the last two days, we've seen rising price action from BTC, but that bullish sentiment looks about to fail us. A rising wedge forming on our hourly chart indicates an incoming breakout. This looks like an ideal setup for a short position, with a break downwards from the wedge expected at around 13:00 EST tomorrow afternoon. A breakout below the 6515 support level would confirm this breakout. Entry is recommended on the retest of the 6650 level after having broken the wedge, with a stop-loss placed at 6720. First target is 6415 with a second target at 6290.
This is not financial advice.
Trade active
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We've seen confirmation of the downwards break, awaiting entry at 6650. Targets intact.
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Partial order filled between 6615-6625. Other orders from 6630-6675 not yet filled