A new year pivot will print soon, will the price pull back towards this pivot after this latest run up blows off? Will the pivot maybe line up with the 618 from a move up to 30k? Highly speculative, maybe wishful thinking, certainly possible. This would be a backtest of previous resistance that we broke out of and never backtested.
BTC is bouncing between support and resistance inside of a symmetrical triangle with an upside target of $25k and a downside target of $21.2k. Whilst it is a neutral pattern, I lean more towards a bullish breakout. Buy the green box when volume comes in.
Verge had a small rally but it was a false breakout/bulltrap in my opinion, looks like a cup and handle forming but dies. I'm short on verge now she's heading to the basement.
Well we have broken the 322 of the previous low which means the big monster triangle is no longer in play I fear we may drop to the bottom dotted line before we turn bullish again.
Verge has just pumped and is beginning to break the descending wedge pattern, however it is still well within the red symmetrical triangle which again could go either way!
Verge has formed a symmetrical triangle (outlined in red) at the bottom of a descending wedge which suggests that the price could go either way here from here now, it could drop back to support at 400 or it could breakout to the upside.
This is my first post, I am just learning TA so please do not take any of this as financial advice. These are just my ideas of what might happen.
Currently I think that verge is looking to break out of a descending wedge and it could rally up to any of the the fib target lines in yellow.
The longer term picture shows verge trading inside of a symmetrical...
