crypto_Kef

BTC its clear for me now

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I have found something very intresting in the BTC pattern. It seems that we retrace after every uptrend back to the 0.718 zone (blue zone) of the fibonnaci levels.

Using this I have predicted the further trend of BTC .
If I use this trend, it seems we are forming a rising wedge , wich is bearish .
The target after breakdown of the wedge would be at the start of the wedge , between the two brown lines.
Comment: The triangle still hold significance. BTC is now testing the lower suport line of the triangle. If this line holds, I expect an upwards movement towards the 6800 level.

If it fails, I expect a drop towards the brown support zone.

Comments

Your TA is fundamentally wrong, there is no divergence, look at the wicks... the line between them is convergent. And for divergence/convergence with an indicator those have to be taken as points for the trend line.
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skelart dklug8
@dklug8, if this is a simmetrical triangle.... a square is a circle
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dklug8 skelart
@skelart, did you read the TA?
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It was perfect good job
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agree
Reply
Good for you
Reply
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