BITSTAMP:BTCUSD is at the peak of a descending wedge pattern. This is a good opportunity to enter a sell position as we look to again attack the resistance at the bottom of the pattern and seek new lows.
BITSTAMP:BTCUSD is set for a massive drop as it completes a short-term descending triangle pattern, suggesting that it will not recover from the recent major drop.
Mid-term outlook is still bearish as we look to the resistance at $6,000. This is a key resistance and also sits around the underlying "true value" of Bitcoin, which can be charted out from its early...
NZDUSD has just touched on a key lower resistance and is poised to show short-term price gains.
Long-term outlook is likely still bearish, but we are currently trading within a range that will likely see further in-range price movements before descending lower.
Currently targeting 0.64400, T/P set at 0.64000, S/L 0.62000.
Having broken out of a descending wedge , BITSTAMP:BTCUSD continues to fall downwards — but how far will it go?
The first key resistance is at $6,000, which was the lower limit for the descending wedge pattern that followed the previous bubble. We will be looking to sell down to this point and then watch for any indication if the price will pick up or continue...