BTC: Daily Analysis - Classic Rising Wedge 1D (Aug. 24)

Bitcoin is currently trading in a possible rising wedge, furthering evidence for a bearish case that may bring the euphoric bull run to an end. A break above, would negate our theory completely; however, we always want to trade the market with both bias. Understanding both sides of the concept is incredibly important, considering all things. For example, Bitcoin has been trading with severely low volume that has been bringing bitcoin to higher levels with no significant buyer's interest.

While we still believe there may be a case for a bull case, we will switch our stance once our targets and rising wedge has been completely negated.

Trade Safe.

X Force.