🎯BTC: Real Life wedge trading! Tutorial for traders!

BINANCE:BTCUSDT   Bitcoin / TetherUS
🌟The picture of the wedge pattern is beautiful, but you have to understand how to trade in Real Life! In this idea I will try to teach you how to enter the trade and what to look for. The descending wedge is a bullish pattern . On the chart you can see how it works on Bitcoin . Over the past year, it has worked well in 3 out of 3 trades.

🎓What is the wedge? Wedge is the price consolidation in downtrend or uptrend. So if it`s UPTREND, the price making higher highs and higher lows. The whales in this case sell higher and higher. Ascending (uptrend) wedge is bearish pattern . So If it`s downtrend the price making lower highs and lower lows. The big players try to hunt trader stop losses to get the liquidity for their LONG positions.

🚩Let`s start from the May-July 2021 wedge! In addition to the descending wedge , there are several triggers to open a long:
1. false breakout (liquidity collection) of the $30K key level. A lot of stop losses were collected, a lot of traders were liquidated. The whales were happy. Additionally, pay attention to volumes as well as liquidation volumes.
2. squeeze under the upper boundary of the wedge and test it as support. Here you can open a trade during the squeeze under the trendline and after test it as support. It`s better to check at lower timeframe.
All this added up to a long two-month consolidation with stops losses hunting and Bitcoin DUMP by 50-55%. Many traders simply lost faith and closed positions at a loss.

The price rose by 50-60%, but if you had closed the trade on the next Dump, you would have a profit at least +30-35%.

🚩Next is the Sep 2021 wedge! In this case we didn't see big liquidations, the whales had enough liquidity, and everyone who shorted on this 23% drop became the fuel🔥 for further growth. Additional triggers:
1. a trend change. The price trend changed from a downtrend to a small consolidation and then started to create higher highs and lows.
2. squeezing under the local trend line on lower timeframes. If you switch to the 1 hour timeframe this is clearly visible.
3. test of the global and local trend line as support and growth without pullbacks (strength of the bulls).

We close the deal as soon as the target is reached. If you continued to hold the trade for more than 10 days, the profit would be at least +30%.

🚩Will the fourth wedge break up(4/4)? During this Apr 2021 wedge , we have not seen the huge liquidations yet. Also, we haven't seen bullish strength, squeezes under trend lines or levels. Therefore, we should wait for our entry point and don`t open trades without the confirmation of the trading strategy. I'll share with you my local ideas later.

🌐Globally, the market has been in a $30-67k consolidation for more than 1.5 years. Sooner or later the price will choose the trend and maybe even in the next few weeks.

🔥Trading is the combination of trading tools, using filters and non-standard methods, which I try to explain in my training ideas.

Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.

P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.

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