cryptonekoz
Long

BTC FALLING WEDGE INSIDE BEARISH LONG TERM PATTERN... BREAKOUT?!

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Summary: Found something interesting today, realized there was a falling wedge ( bullish pattern ) inside a longer bearish descending triangle .

Note: This is solely based on TA and any FA could cause a change. My longer term bearish outlook still plays as this wedge is inside that. It is provided below.

Bullish Points:

- A falling wedge would give BTC quite a bit of momentum as we test this upper trend long term trend line . The next trend line spot would be 6600-6700 which looks to be happening within the next month.

- RSI has been consolidating sideways within the wedge drawn.

- Volume has been consolidating as well on a longer period


Long Term Bearish Descending Triangle:


Free telegram room: https://t.me/cryptonekoz

Free daily technical analysis videos: http://www.youtube.com/cryptonekozmedia

VIP room: http://www.remaincalmschool.com/trade

Twitter: @cryptonekoz
That's either a descending triangle or pennant, not a falling wedge. Though I think the outcome will be the same, bullish.
+1 Reply
cryptonekoz VinceKramers
@VinceKramers, are you saying you don’t see the falling wedge drawn?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out