Hello everyone, I invite you to a short discussion of the Rising Wedge formation created on the BTC chart.
We can observe the formation of the Rising Wedge, which is characterized by a bottom exit from the channel.
For a possible play, you should keep the stop loss at $ 21,630, while entering positions in the marked channel, but the safest will be at $ 20,755, after leaving the channel at the bottom.
The target that can be taken into account is around $ 19,686.
Please watch the EMA Cross 10 and 30 when the red line crosses the green from above to confirm this entry into a downtrend.
We can observe the formation of the Rising Wedge, which is characterized by a bottom exit from the channel.
For a possible play, you should keep the stop loss at $ 21,630, while entering positions in the marked channel, but the safest will be at $ 20,755, after leaving the channel at the bottom.
The target that can be taken into account is around $ 19,686.
Please watch the EMA Cross 10 and 30 when the red line crosses the green from above to confirm this entry into a downtrend.