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
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out