Bobby-Axelrod

Plan for Bitcoin Volatility

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
$BTCUSD

Bullish descending wedge is getting close to the apex, target for entry is at support / fib line from $7700-7800. Oversold RSI + descending volume on the 4hr chart also indicates a breakout is due. A break below support will invalidate the pattern and result in a drop to lower support of the symmetrical pennant . Proceed with cautious optimism.
Trade closed: target reached

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