Hi everybody,
After the recent Bitcoin price bumped up to 49K, a possibility of a new pattern is showing up! an ascending channel rather than a wedge.
Frankly, I am not assuring about any of them. Although, since a nice and trustable divergence has formed for several weeks, it is highly likely to be an ascending wedge. Hopefully, there are some hints to realize which one will turn true. If the price declines from that level it is now to 47.5K (for more conformity wait until 46.3K), it will lead to form a pullback and the ascending wedge will be the right choice. On the other hand, if it turns back to the purple region (ascending wedge), definitely it will be a channel and more hope for higher prices.
Good luck all,
After the recent Bitcoin price bumped up to 49K, a possibility of a new pattern is showing up! an ascending channel rather than a wedge.
Frankly, I am not assuring about any of them. Although, since a nice and trustable divergence has formed for several weeks, it is highly likely to be an ascending wedge. Hopefully, there are some hints to realize which one will turn true. If the price declines from that level it is now to 47.5K (for more conformity wait until 46.3K), it will lead to form a pullback and the ascending wedge will be the right choice. On the other hand, if it turns back to the purple region (ascending wedge), definitely it will be a channel and more hope for higher prices.
Good luck all,
