Get started
Cryptomaniac_tc

BTC ascending wedge with apex at $8200... what will happen?

Bitcoin / TetherUS (BINANCE:BTCUSDT)  
Cryptomaniac_tc Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
Chart Patterns BTCUSDT
0
0
chartpattern btcusdt
BTC appears to have formed an ascending wedge that is pointing towards $8200... which is usually bearish and predicted to fall. But BTC has been bullish for the past few days, making a retracement that is relatively small. So will BTC defy the ascending wedge and shoot past $8200 this weekend? I think it is likely to move pass $8200 towards $8500-8700 this weekend.
Comment:
So BTC dropped down from the ascending wedge, and now has formed a descending wedge, pointing towards $7800, so maybe a bounce out of the descending wedge coming soon for the bulls to make another attempt to break $8200.

snapshot
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.