mattgarbutt
Long

Falling wedge on BTC leading to breakout or breakdown?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Been looking at this for a few days now, and put up a previous idea on it. This chart has been updated to catch the low of 15th March. I've seen others also looking at this wedge , and looking for the price to bottom out at $7200, but on log scale it meets a long term rising trend at about $7400.

I guess this is one scenario out of several possible. If the wedge plays out, hopefully it's a bounce out and up to the target arrived at from measuring the opening of the thick end of the wedge , rather than out and down to $6k. Let's see how well this ages. Only a few days left to find out now.
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