if we bounce off this Bottom Blue support, then we add more weight to the idea of in a rising wedge pattern on the daily. Most likely count another 7 or 8 days then we head back up over 30k to Red Resistance. This is all probability theory and should be traded with risk management
Trend is up, for now, has been since December 2022
The least risk trade is buy at Bottom Blue support, following the age old rule, buy low ( Blue ), sell high ( Red )
Remember what happens at the end of a rising wedge....
the big dip, so a drop is expected on the daily after this pattern completes....
then on to the next 'pattern' printed by the 'powers that rule the game'
another interesting observation is
usoil also has a rising wedge pattern, but in a totally different formation, unique to its own fundamental price swings ( how it responds to 'news' or real world data )
Trend is up, for now, has been since December 2022
The least risk trade is buy at Bottom Blue support, following the age old rule, buy low ( Blue ), sell high ( Red )
Remember what happens at the end of a rising wedge....
the big dip, so a drop is expected on the daily after this pattern completes....
then on to the next 'pattern' printed by the 'powers that rule the game'
another interesting observation is
usoil also has a rising wedge pattern, but in a totally different formation, unique to its own fundamental price swings ( how it responds to 'news' or real world data )
The ascending broadening wedge pattern indicates a potential selling opportunity after this uptrend
But remember that in the overall picture, btc has been in an uptrend for 13 years
My opinion is that all markets are manipulated
And crypto is no exception
One trillion is current market capital, and ATH it was three trillion
Two trillion has been wiped out of the market...
i believe that this was planned by those who pumped and dumped
In this ascending wedge pattern, the price fluctuates between the upper resistance line and the lower support line
please note that this is a reversal of current upward trend pattern
until , 'the powers' that be,
print another nice pattern for us to 'believe' that we dont live in the matrix,
and that patterns are the new reality :)
crypto teaches us , again that nothing is solid, real....everything is an illusion, impermanent, manipulation
crypto is a brand new space for creating more manipulation of markets
Trading is learning to be a better risk manager of manipulation