Hello everyone, I hope you are having an amazing day. I'm here again today with another TA on BTCUSD
I'm back from my vacations (in case you didn't know that's why no updates were posted) and I see Bitcoin has managed to find support on the Green box I drew.
As of now we should take a look to the Red box because that is where a breakout of the Falling Wedge is happening.
The 78.6% (Orange fib) meets with the resistance of this smaller trend (Orange line with breaks) and that is near the Support/Resistance zone which is the Orange box.
The grey lines with breaks are Supports on daily chart (place them in your chart and look back and see how price reacted to it!)
In my opinion the path price will take is shown by the White line.
There's not much to say let's just wait and see.
DISCLAIMER: This is my own personal opinion! Don't take what I say for granted, this is NOT financial advice. Don't spend what you can't afford to lose, and remember, patience is a key on this Crypto Market! Hold is life!
Trade safe and have a nice day!
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Forgot to add the red line with breaks which is another resistance like the orange line with breaks. See what happened when it got there?
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The first white arrow was made very quickly, took it about 8/12h I thought it would take longer since BTC is taking it slow :P
Now we should see the second arrow.
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Looks like a Bearish Pennant.
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Crazy Breakout from BTC, wasn’t expecting this at all…