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evasivesteering

Short-term prediction for BTC 01/05

Bitcoin / TetherUS (BINANCE:BTCUSDT)  
evasivesteering Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
Wedge BTC Falling Wedge Contains image
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wedgepattern btc fallingwedge containsimage
BTC has been in a falling wedge since 2 weeks. It is likely that a breakout will happen.
My shorterm target prediction is $41500.
Comment:
I would like to comment a little bit on the predicted target.
I consider the highest price ($43000) and the lowest price ($37500) of BTC in this falling wedge with the probability of reaching target of 60%. Since BTC broke this pattern at $38400, the target will be $38300+0.62*(43000-37500) or approximately $41500.
This target is also the point where BTC will hit the upper edge of the descendant parallel channel.
Comment:
BTC broke the wedge and went up. At the moment of writing this comment, BTC is retesting the wedge. I expect a bounce of BTC at $38200 (before continuing to go to the first "take profit" target at $39700).
Comment:
Comment: BTC restests the trendline and is at a major support (Fib 0.382). Can these supports hold and push BTC up?
Comment:
Trendline held well. Now BTC is going up to touch the $39700. I expect a small throwback at this level.
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