ehjreynolds

BTC to 38-39K, then the north.

Long
BITSTAMP:BTCUSD   Bitcoin
In this hourly chart, BTC has started falling out of a rising wedge but is simultaneously (potentially) forming a descending broadening wedge - a bullish reversal pattern. If BTC does come down to the 38k-39k mark, that would give it 3 touches on the bottom and a bounce would give it 3 touches on the top.

My suspicion is that we would then be done with the correction and and we would start slowly moving up into October, where the bull would re-take control.

NFA

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.