I am reposting this idea as I have updated and placed a mid-range resistance for the wedge .
$BTC idea :
Another idea for BTC could be that we are created a pattern of a rising wedge on the weekly TF . Rising wedges usually breakdown to the downside .
Moreover , if it plays out like this we could be having another bounce retesting the previous ATH and then breakdown .
But as mentioned before market is variable and changes .
So we could just be falling from here further to the downside without going higher .
Which in my opinion , I would be expecting another pump before finally crashing the market , as whales could be looking for more liquidity or placing more shorts .
Apr 6
As we got rejected on the mid-range I believe that we could be revisiting the bottom of the rising wedge .
$BTC idea :
Another idea for BTC could be that we are created a pattern of a rising wedge on the weekly TF . Rising wedges usually breakdown to the downside .
Moreover , if it plays out like this we could be having another bounce retesting the previous ATH and then breakdown .
But as mentioned before market is variable and changes .
So we could just be falling from here further to the downside without going higher .
Which in my opinion , I would be expecting another pump before finally crashing the market , as whales could be looking for more liquidity or placing more shorts .
Apr 6
As we got rejected on the mid-range I believe that we could be revisiting the bottom of the rising wedge .
Comment:
The original post without the mid range trendline :
Comment:
If we break below $37,000 the rising wedge is breaking down which in my opinion is not so good .