BTC Rising Wedge LONG Long

Bitcoin / United States DollarCoinbase

Description

⋅ Sep 9, 2017 6:05 PM

Using the upper trend from March and the nadir of July, there is a rising wedge that comes to a convergence at around $6200 in late October.

Comments

bmgbmg

⋅ Sep 9, 2017 8:29 PM

Well I'm shorting because I'm looking at a lot of charts and BTC will sell off hard in the next day.

I've opened shorts at 25:1

I'm ready.

kochelli

⋅ Sep 9, 2017 10:24 PM

@bmgbmg, If it breaks 4199 I will agree with you.

bmgbmg

⋅ Sep 9, 2017 6:54 PM

Going long in this market right now is a dangerous trade, especially since it's the most overbought since its last sell off of 85%.

Here's a sobering fact, BTC could sell off to $1000 and still be in a bull market, it's done it twice already.

kochelli

⋅ Sep 9, 2017 8:22 PM

@bmgbmg, I think not going long is a more dangerous trade. At the same time, these are just lines drawn in a chart. Purely objective really.