Bullish Wolfe Waves forming on Bitcoin. 4 -> 5 broke the wedge with decent volume. Being conservative, I would expect wave 5 to reach the green rectangle. Using leverage is up to you.
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Clean breakout from the wedge with a solid 1- hour candle. We are left with two possible scenarios for our bullish narrative; either keep going up, or take out the equal highs marked with a dollar sign then retest the broken trend with low volume (which is what I prefer) and shoot up.
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Zooming into the breakout candle, we can see that in has a mini re-test already enclosed within it in 15 minute candles (sorry my lines are a bit inaccurate, I spilled soda on my mouse!) which is a positive sign of a clean breakout.
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Make sure to book your profits as soon as we reach the main target area as the Value Area Low of the 4-hour range we have been trading in the past three weeks or so rests at $23,750 (at the time of updating) and it is very likely to see reactions (reversals / bounces, or simply having them shot through) to these levels especially at such time frames and for such long ranges.
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Smashed through the equal highs and the supply at bearish order block and FVG stack (5m chart) all taken.
Trade closed manually
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WOW! Market price didn't reach my SL on ByBit so I was give a lifeline. Exited with enough profits to cover derivative fees. Closed.