LanaFL
Long

BTC UPDATE! UNDERLOOKED FALLING WEDGE - TARGET $13,500

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
16 week Triangle that everyone was talking about seems to be a WEDGE! Here is why:
Since we almost don't have wicks on the top(check it yourself on the Daily chart ), we should disregard wicks on the bottom
#1 rule: Wicks to wicks, body to body. If we charting it properly following this rule, we can clearly see a falling wedge and price just bounced from the lower line. That's why it spiked like that recently. $5800 has been tested multiple times and showed a strong support and now BTC testing resistance at $6250. If we will manage to break it, next stops are $6800-$7050, $7600-$7800, 9k, 10k, 11600 => Target

The measured target of this Wedge is $13500
Stay tuned!
//This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
Comment: The very last example from the list above is a rising wedge, to show the difference
Trade closed: target reached

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