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BTCUSD - Approaching Falling wedge break out
BTCUSD recorded 17% Gain today after price bounced from falling wedge support formed on Daily and 3D Chart.
Falling wedge resistance is at 8700-8800$ Level, Bitcoin needs to break above 8800$ and build support above this level for a bullish trend change.
As long price stays below 8800$, there could be a possibility of another leg down to 6800-7200$ before major bullish trend change.
Overall, I am expecting a major rally to 18,000$ in the next few months before halving.
Plan of action:
- Either I will start building LONG Position around 7000-8000$ price level or I will start building LONG Position after price breakout above 8800$- Whatever comes first.
Check my long term price outlook view here:
Falling wedge resistance is at 8700-8800$ Level, Bitcoin needs to break above 8800$ and build support above this level for a bullish trend change.
As long price stays below 8800$, there could be a possibility of another leg down to 6800-7200$ before major bullish trend change.
Overall, I am expecting a major rally to 18,000$ in the next few months before halving.
Plan of action:
- Either I will start building LONG Position around 7000-8000$ price level or I will start building LONG Position after price breakout above 8800$- Whatever comes first.
Check my long term price outlook view here:
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