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Dude56

Bitcoin - Falling Wedge + Inversed Head and Shoulders

Long
Bitcoin (COINBASE:BTCUSD)  
Dude56 Updated   
COINBASE:BTCUSD   Bitcoin
Trend Analysis Technical Indicators Chart Patterns buysignal
15
1
trendanalysis indicator chartpattern buysignal
Bitcoin broke up falling wedge and bounce from 8.6K area and right now it will test falling wedge previous resistance that now works like a support. We should expect a bounce from here and a classic falling wedge followed by an inversed head and shoulders. If we don't bounce from 8K area we should drop to 7.6-7.8K area for another bounce attempt.
Comment:
Head and shoulders not completed. We are now testing 7.6K-7.8K support
Comment:
Will the falling wedge support hold BTC up? Only time will tell. We also have a strong support at 7.2K dollars.
Trade closed: stop reached:
Bitcoin proved few hours later that this idea was not gonna happen.
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