Corrupt_Economy

Ascending Broadening Wedge - Target 7350

Short
BITFINEX:BTCUSD   Bitcoin
We broke to the down side of the small light blue symmetrical triangle. Target is around 8050. If this target is reached, then we will have also broken below the green ascending broadening wedge. A break below this sees a target of around 7350. Please note: That ascending broadening wedges more often than not break to the downside. Considering we are overbought on some many time frames, plus the bearish divergence on the four hour (+ hidden bearish divergence on weekly), plus the 50 EMA on the weekly is converging with a long term support turned resistance on the weekly which we have found resistance at, + other indicators; leads me to believe we should retrace. However given the blatant manipulation of the market lately, who knows for sure!

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