MaxDDM

BTC Weekly falling wedge

COINBASE:BTCUSD   Bitcoin
Falling wedge taking shape on the weekly timeframe. This pattern takes into account a possible dip below 10K. The target is the 0.618-0.786 Fibonacci levels, if anchored from the previous highs to a speculative ~$10,000 support zone. If a capitulation event were to take place a wick even lower than what is charted is possible. The previous cycles Fibonacci levels are also charted, anchored at the ~$20,000 high and ~$3,000 low to add further context to the current cycle.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.