XBT within a falling wedge pattern. Watching for a break-out.

XBT had a sizable drop the last few days given the volatility for Bitcoin has been at historic lows. We saw XBT retest the support zone around 6200-6250, and so far it has been able to hold. We can also see XBT is within a falling wedge pattern (typically a bullish reversal pattern) and we could be looking to break-out here soon. We can see the RSI is turning up from the "oversold" territory, the Stochastic is also turning up, and sell-side momentum is dwindling on the MACD and we could soon see a bullish MACD cross-over. We are below a lot of the 4-hour moving averages, and we have several fib levels which will act in conjunction with those moving averages as resistance. I'm watching 6330 (.382 fib level) and 6370 (.5 fib level) as potential strong resistance zones. If we got above those, I'll be watching 6430-6450, then 6500, 6550, and 6600. If we continuing moving down, we will most likely retest the 6200-6250 support zone once more, and if that breaks, we could move as low as 6100, if not 6000. Low volume and low liquidity make trading this market difficult, so do your own diligence and risk assessment before making any trades.

Entry:
6250-6275

Target 1: 6330 (.382 fib level)
Target 2: 6370 (.5 fib level)
Target 3: 6430
Target 4: 6500
Target 5: 6550
Target 6: 6600
Target 7: 6700

Stop-loss:
(Tight): 6180-6190
(Loose): 5900