Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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BTCUSD is possibly forming a falling wedge pattern on 4 hourly chart. Possible breakout trade trading opportunity. Currently it is a wait and see if it breaks out from the top or below the descending lines. Falling wedge patterns are usually a bullish continuation or reversal pattern. In this case it could be a reversal bullish pattern . Target is around 44500$ Read all about falling wedge patterns.
This is not trading advice. Just sharing an observation.
Only trade what you can afford to lose as nothing is ever 100%, ever. At the moment it would seem that its breaking down. Wait for at least an hour or 4 hrly candle close below or above the lines before putting in a trade and lookout for fakeouts.