BTC to 6.9k rising wedge and 0.618 fib resistance

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比特幣 (BITFINEX:BTCUSD)

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BITFINEX:BTCUSD 比特幣

trendanalysis chartpattern btcusd btcusdshort btcshortsetup xbtusd btc btcshort

Hi everyone,

Everyone is suddenly turning bullish while BTC 0.94% did not fully retrace yet to 6.9k to meet its play by the book.
What we can observe is that we are closing to the end of the rising wedge which correlates which the 0.618 resistance.

If we look and the Long Term, BTC 0.94% did not fully retrace yet and that's one more indication that "6.9k is needed" in order to get a proper bull market. On top of that the volume has been consistently declining since the end of the short term uptrend at 9.6k.

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All the Best from the Cryptospace

交易進行:

Hi everyone,

As we can BTC is showing signs of decline. On smaller timeframe one of the rising wedge is already broken and several alts are already in red.

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All the Best from the Cryptospace

評論:

Rising wedge broken. now it needs to close outside to confirm the play.

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All the Best from the Cryptospace

評論:

BTC is now following the analysis perfectly, target is still the same i.e long term support in the 6.9k area

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交易進行:

We had a down breakout where we took profit before the buying pressure impede the full retracement induced by the rising wedge.

Let see how it plays out. To invalidate the pattern we need a close above $7,800

All the Best from the Crypto Space

交易結束：目標達成:

Dear all,

Target achieved. As you can the pattern finally played out. Triple bottom is here, let's hope the bulls show their faces now.

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評論:

BTC 1h timeframe bullish triple candle pattern

BTC to 6.9k rising wedge and 0.618 fib resistance

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