Crypto has seen a huge correction from the previous all time high a few months ago.
My current thought process for this trade:
Seems like crypto assets have become tied to the moves of the global markets. An easy indicator is to watch the correlation of the SPY as they seem to be moving in tangent, for now....
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Looking at the symmetrical triangle forming at the apex of the wedge. This could potentially be a really big move up. Currently looking at a short term swing up to $4000.
The potential for a long entry to a new ATH can be a possibility here as well.
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Testing the downward sloping resistance...
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Getting a reaction bounce of support line
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Potentially getting a confirmation of breakout, retesting downward support which was previously resistance.