Hi all.
Today we have a huge red candle for BTC and even bigger ones for the rest of the crypto;
Not everyone is bullish but whenever this happens I try to zoom out and see the broader picture.
I see a huge falling and condensing wedge is forming on the 1-D chart which if remains valid has the price targets into mid 50k!
The bottom of this wedge also coincides with an important Fib level and previous support near 41 k.
BTC should hold the support areas I've shown for this pattern to remain valid. I think we will complete this pattern by mid-October.
Historically September has been a slumpy month for BTC, but long-term forecasts predict better days for BTC for Q4 2021 which also supports my idea. Please share your thoughts with me on this one.
Thank you for your likes and comments in advance
Today we have a huge red candle for BTC and even bigger ones for the rest of the crypto;
Not everyone is bullish but whenever this happens I try to zoom out and see the broader picture.
I see a huge falling and condensing wedge is forming on the 1-D chart which if remains valid has the price targets into mid 50k!
The bottom of this wedge also coincides with an important Fib level and previous support near 41 k.
BTC should hold the support areas I've shown for this pattern to remain valid. I think we will complete this pattern by mid-October.
Historically September has been a slumpy month for BTC, but long-term forecasts predict better days for BTC for Q4 2021 which also supports my idea. Please share your thoughts with me on this one.
Thank you for your likes and comments in advance