The triangle wedge colored in blue formed by the Major support and resistance trendlines has got bitcoin stuck in a wedge, it seems indecisive on which direction to go... Right now bitcoin is bouncing back from hitting the dynamic support line or support trendline with a strong momentum, but failed to break through any lower.
I drew a smaller trendline colored green along Bitcoin's price movement, and it has formed a nice little wedge within the bigger wedge.... Interesting.
From the way its going... Bitcoin is sure to hit the green trendline at around 9750, Wether it breaks the minor resistance trendline i formed and goes higher, or drops back to the major support trendline, Bitcoin is too mysterious for me to tell... hehehe
Well... i will be taking profits on a short term ride. Am entering the trade at 9400-9450. And will take profits at 9750. If it dips some more before going up... be my guest and buy some more
See you guys then !
I drew a smaller trendline colored green along Bitcoin's price movement, and it has formed a nice little wedge within the bigger wedge.... Interesting.
From the way its going... Bitcoin is sure to hit the green trendline at around 9750, Wether it breaks the minor resistance trendline i formed and goes higher, or drops back to the major support trendline, Bitcoin is too mysterious for me to tell... hehehe
Well... i will be taking profits on a short term ride. Am entering the trade at 9400-9450. And will take profits at 9750. If it dips some more before going up... be my guest and buy some more
See you guys then !