BTC#33 -- 07.01.2021 Outlook for the next days!

Hi Together,

as always, here is my daily update on the current BTC price.

We had a very interesting price action yesterday. Our trade was unfortunately closed at the blatant liquidation candle at our break even (entry price). However, we were able to realize 20% profits here again.
At this point in time, we are forming a Rising Wedge (bearish chart pattern). Here, our lower support is very important. If we break through $36,500, I expect a correction to around $31,000 sooner. In my opinion, we could go up some more before we could really see a harder correction. I expect that we will see another 20-25% wig down here and consilidate sideways again!

If this scenario were to occur, we would form a giant double bottom (highlighted in yellow). I will definitely open a trade in the sideways move (blue) if we fall that far down. Please note that the course shown in blue can of course shift a bit up or down. This should only be an orientation, how I expect the course of the price.:)

Please also keep an eye on the purple resistance line. Here BTC has found the last days / weeks very good support! It is quite possible that we will bounce here.

There are no more trades open at the moment. I am getting a lot of messages at the moment. So bear with me if I can't answer immediately.

Stay healthy and take care of yourselves!

Your Schueco!

P.s.: As always, don't forget to Like and Follow so you don't miss anything!