FieryTrading

πŸ”₯ Bitcoin Classic Falling Wedge: Bullish Pattern

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
Bitcoin has been seeing some strong declines over the past week, with a high to low of around -25%. Over this period of time, there's been several small bumps in Bitcoin's price. During this time, a classic falling wedge has been formed.

Falling wedges are, according to theory, bullish patterns. This is therefore a bullish potential trade on BTC .

Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.

On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.

Happy trading!
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Comments

interesting setup. let's see what we get!
+1 Reply
FieryTrading ProjectSyndicate
@ProjectSyndicate, thanks broπŸ”₯πŸš€
Reply
amazing work mate
Reply
Now I agree with you, mate
Reply
great analysis
Reply
Very nice bro!!
Reply
waiting for that break too! let's see when
Reply
FieryTrading TheSignalyst
@TheSignalyst Great! Good luck mateπŸ”₯
Reply
great job over here thanks for sharing
Reply
FieryTrading MMBTtrader
@MMBTtrader, appreciated broπŸ”₯πŸ™
Reply
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