Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Long-term: (Out of frame) Ascending wedge with three bullish pennants forming. Mid-term : Rising trendline of the bullish pennant Extended, on its way to retest higher resistance as support. Ranging in the pennant , flirting with 12000, this top defines the second point of the peak resistance line as seen in the previous bull-flag. This line ends on the Ascending wedge's support meeting with the low and high support line, and predicts the timing for the next outbreak. Short-term: Retest support on the high resistance line 11600 - 11700 area.
Now that the pattern has met its outlines, a Mid-Term analyses will follow soon.
Comment
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Small bounce on the high resistance line 11750 - 11600
Trade closed: target reached
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No bounce on the high resistance line. Closed on target.