LONG Bitshares BTS Watch for Descending Wedge Reversal Breakout
This should possibly provide a nice quick long opportunity.
BTS is currently in the midst of a second consecutive descending wedge formation. This one is larger than the previous, so I'm anticipating an even bigger move up when it flips.
Currently have a bullish divergence on the 1hr and a largely oversold situation, but there may be a little bit more trickle down to complete the formation.
Either way the move is coming by tomorrow.
Large support at 1341. If price breaks this support, then we are going much lower.
Tentative target in the 1695 area.
Happy trading.
BTS is currently in the midst of a second consecutive descending wedge formation. This one is larger than the previous, so I'm anticipating an even bigger move up when it flips.
Currently have a bullish divergence on the 1hr and a largely oversold situation, but there may be a little bit more trickle down to complete the formation.
Either way the move is coming by tomorrow.
Large support at 1341. If price breaks this support, then we are going much lower.
Tentative target in the 1695 area.
Happy trading.
Trade active:
Houston, we have liftoff.
Trade closed: target reached:
Chart played out wonderfully, and the 1695 target was achieved. Congrats to all that followed.