Beating a dead horse here because my analysis from August 7th is playing out with uncanny accuracy. We are still trading inside the large wedge that has formed. We set another lower high and higher low. If you look at the chart with a long term perspective we could just be forming another bull flag from the 30% pullback, which is a staple of a Bitcoin bull market.
10500 was acting as resistance since the 15th but was confidently broken today. Following this, I would imagine we keep clawing our way towards the upper end of the wedge. It would be no surprise to see the price back around 11300 by this weekend. Simply trading long from the bottom of this wedge and short from the top has been the perfect strategy over the past few weeks, and is simple enough for any trader to follow.
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Happy Trading!!
10500 was acting as resistance since the 15th but was confidently broken today. Following this, I would imagine we keep clawing our way towards the upper end of the wedge. It would be no surprise to see the price back around 11300 by this weekend. Simply trading long from the bottom of this wedge and short from the top has been the perfect strategy over the past few weeks, and is simple enough for any trader to follow.
Be sure to follow for more straight forward trading advice.
Happy Trading!!