SynergyTradingSetups

BTC current situation

Long
COINBASE:BTCUSD   Bitcoin
BTC is in a falling broadening wedge which is bullish, it has also hit the Pcz of a bullish harmonic and shown seller exhaustion on lower timeframes along with bullish divergence on the daily macd. PA on shorter timeframes is key right now along with the stock market, but technically it looks good. Ideally you would like to see a break out of the wedge and a break and backtest of 52-53k as support, this is an accumulation zone and it is starting to show it with the higher low on the 4h. I am waiting for a break of the wedge and a break of 49200 to add to my long. should we reverse here and make a new low id look for 43600 which is the Pcz of another bullish harmonic that can be seen on the 4h.

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