Hi Friends,
Had some time in my hands here just waiting on Bitcoin to just do something and ended up plotting these pathways where Bitcoin may potentially traverse.
2 paths are pointing to the upwards and 2 are pointing to the downwards.
What's your vote, Path #1, Path #2, Path #3 or Path #4.
I still have this rising wedge chart pattern laid out on my chart, and as per classic technical analysis theory, this is a bearish pattern.
If this the bearish scenario plays out, we might see a drop to $7,000 or as low as $6,625. Great opportunity to accumulate BTCs.
If Bitcoin defies gravity and continues to push upwards, and continues to ride the parabolic curve, we're seeing prices of up to $9,500 to $11,650.
Place your stops at the appropriate levels.
Happy Trading!
Had some time in my hands here just waiting on Bitcoin to just do something and ended up plotting these pathways where Bitcoin may potentially traverse.
2 paths are pointing to the upwards and 2 are pointing to the downwards.
What's your vote, Path #1, Path #2, Path #3 or Path #4.
I still have this rising wedge chart pattern laid out on my chart, and as per classic technical analysis theory, this is a bearish pattern.
If this the bearish scenario plays out, we might see a drop to $7,000 or as low as $6,625. Great opportunity to accumulate BTCs.
If Bitcoin defies gravity and continues to push upwards, and continues to ride the parabolic curve, we're seeing prices of up to $9,500 to $11,650.
Place your stops at the appropriate levels.
Happy Trading!
Comment:
This was the chart I created on the 28th of May showing the rising wedge pattern.
Comment:
This is the potential outlook for the parabolic curve I've plotted.
