BINANCE:BTCUSDT   Bitcoin / TetherUS
Hey everyone!
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What we've got here:
1) Every next wave up is smaller than previous one. Usually it indicates following retrace or long consolidation at least.
2) Price trades in the rising wedge (black). I give it a room up until 10600. Invalidated when price fixes above it on the daily at least.
3) Key resistance level 10370 - the top of previous fake pump.
4) Price trades near key resistance line (orange), which is previous support of large consolidation before that 15% drop .
5) Golden cross on 15-17 th of February. Usually price dumps during golden crosses and pumps during the death ones. (Remember that 30% pump a few months ago?)
6) Lot's of scam wicks last day or two. Lot's of sellers on binance, which we have never seen until today.
7) Grayscale bitcoin index dumped almost 7% today. Usually it leads bitcoin a little bit.

For bullish scenario price needs to close above orange line, above falling wedge and above 10370 at least a few days. Key resistance above is 10600 now.

You can reduce your risks by selling everything or at least a part of you portfolio including both Bitcoin and Alts now.
You can open short position when breaking the lower boundary of rising wedge .
The safest: you can open short after exiting the rising channel .

Always DYOR and have profitable trades!
Good luck!


Nice work
+3 Reply
hello_hello Keindinsky
@Keindinsky, Thank you!
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