BTC Consolidating into 16500 - impulse soon.
BTC is consolidating into 16500 with reducing volume and volatility.
This is a symmetrical formation and should result in decent price action. I'm not sure which way this will go.
Possible targets:
- To the upside, there is a small liquidity void but it's not looking super magnetic. 16600.
- To the downside, I can spot 16400 as an area to reach from a couple perspectives - the handle of the last impulse down, and other visible areas back in time a bit show this as an area traders watch.
GL.
This is a symmetrical formation and should result in decent price action. I'm not sure which way this will go.
Possible targets:
- To the upside, there is a small liquidity void but it's not looking super magnetic. 16600.
- To the downside, I can spot 16400 as an area to reach from a couple perspectives - the handle of the last impulse down, and other visible areas back in time a bit show this as an area traders watch.
GL.
Comment:
On longer TF, it looks like it may be testing a breakout below the wedge. I think it'll break back up as it's too early to exit.
Comment:
It is moving down but be careful!
Comment:
that worked but stay safe!