Bitcoin descending wedge scenarios(BullorBear)

Hello!😀🐲

Thank you for considering this short technical approach analysis today.

🐮We see a possible double-bottom on 4/6 hour view..👌

🐻Let's not overlook the death cross(s) present on this TF and circled above(which could make for a sharp rejection at current level.)

With the events mentioned above, this puts us at the bottom of our wedge and makes way for some bullish movement if there's enough buy pressure.

Opposite of bullish, we will exit wedge to our target 52,800.

If BTC goes on a run here and tries to break the wedge structure, I have some key resistances and targets seen above. 📈

I am not expecting to go lower than ~52,800 in the event that BTC fails to reach bullish targets.🆒

Let's wait and see how this develops.

Let me know what you think about Bitcoins price action ⏬⏬

🛑This is not financial advice🛑 Above are approximate targets based on fibs and major trend-lines etc. I always recommend looking at multiple charts when making a big investment, thank you!

Always have a stop loss ✋🛑💲 set

Any thoughts 💭💡, questions 🙋‍♀️🙋‍♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome.

Thank you so much!!

Jazerbay
👀

Comment:

Hello there.

Do not panic until we lose this light blue support line.

I hope you made some profit shorting at 57k, let's see how this develops from here 🐮🐻🕐

Trade active:

Hello everyone, thank you for understanding and coming today.
This update is because BTC has been bouncing off of some very critical zones these last few days. Monday (tomorrow,) is the start of a new week in the market. Not only is it a new week but we are also entering December in 2 days. It is very important to keep a close eye on the market this coming week.

📌📌📌🧐 Let's take a technical approach dive.🏄‍♂️🤸‍♂️🤸‍♂️

We are trying to catch support here..

We need to see an increase in bullish buying pressure

As long as we stay above 57k we have great potential to move higher

Bigger picture: ⏬⏬😃

BTC moving in this ascending channel, we see it hit bottom and bounced 4 times on lower TF view 👀👍


❗If we break down from this channel, expect large drop in price. (Even possible to be the start of a bear market)🆗🐻

Enjoy your week
Jazerbay ☯

Comment:

Exactly 30 percent retracement move, market can move up big moves now

IAYOR

Jazerbay

Comment:

Hello all!

This is just a little fun to lighten the mood in this volatile market.
Always stick to your strategy.

Do you think the hungry Dino will get any leaves tonight? 🕗😯👇

Comment:

Thank you so much 😁🆗