BubbaGanoosh
Long

Stairway to heaven or Trap

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Just casually riding the Rising wedge like it aint a bearish signal. I think this is more a staircase/stairway/step pattern. these develop when the price has been knocked back from a heavy resistance multiple times. the stairway tends to mark the last or second last leg when breaking a triangle in my opinion. stairways exsist on all time frames and they can fail and crash and they can moon. but 80% of the time, if they make it to the hypotenuse, they will retrace somewhat before breaking through. first thing i saw when i started learning TA a few months ago was that BTC looked like the price was starting to turn. then last month we broke a major resistance trend line . and once you break it once, every other time gets easier. i think all the news and desire for quality currency has tempted a lot of fresh investors. rising debt and looming crash has got people looking for alternatives. i also believe funds in alts is being moved to BTC because for stability reasons and fraud (in ICO's and shit coins). the thing is, if BTC drops sub $5000, i could see a lot of alts disappearing from the exchange. this maybe BTC's final weeks in the descending wedge . of course the good news is, a descending wedge is a reversal pattern and makes BTC bullish . i think eveyone should own some BTC at the moment. not sure if you should have all you play money in it, but crunch time is fast approaching. stay safe and stop loss
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