BTT has seen a monster run up since listing. We've seen consolidation for days now after a break of the inverse H&S pattern. While the falling wedge suggests a reversal, note that we've fallen below the 65 and the previous inverse H&S trend line which will serve as resistance. If we can break bullish the initial targets should be the 50 and the 618 coming back up. If we break bearish 8100 should serve as support. So I lean neutral until we get a clear sign of either a break of the falling wedge (with volume!!) or we'll have to be more patient for a long entry.
Comment:
I've adjusted the top of the wedge slightly. AS we saw BTT tried to break above the previous H&S trend line and could not close above it. It has become resistance and now we've fallen to a new low and are finding support on the bottom of the wedge yet again. I still believe that 8100-8300 will server as support.