Ascending Wedge in a bullish market is not always skewed bearish as we’ve seen with BTC.
I’ve lined out my good and bad targets. If BTC gets rejected the grey box will be a great place to accumulate. If BTC drops out of its wedge support...start looking for the red lines as first lines of support.
I think we are going up because BTC is going up.
There is a W pattern forming on 15 minute and 1 hour. This could be the final formation to push us through new highs.
If we break down below support then it looks turns into a HnS pattern on the 1 hour.
Wait for break of first neckline. DYOR and GL!
Smaller symmetrical triangle validated with their touch and rejection on resistance at the top line. We are still in limbo until the daily candle closes which will force the weekly candle to be outside of the ascending wedge or ascending triangle.
Big things about to happen!
Something to keep an eye on here...
I would like to start by saying on the macro view I am still very bullish and have a target of a 80k.
Looking at the one in for our charts, it looks like we’re forming an M pattern. If it breaks the M neckline the target would be just under 58K. That would bring us to the bottom of the ascending wedge that we’ve been in for...