16 week Triangle that everyone was talking about seems to be a WEDGE! Here is why:
Since we almost don't have wicks on the top(check it yourself on the Daily chart), we should disregard wicks on the bottom
#1 rule: Wicks to wicks, body to body. If we charting it properly following this rule, we can clearly see a falling wedge and price just bounced from the lower line. That's why it spiked like that recently. $5800 has been tested multiple times and showed a strong support and now BTC testing resistance at $6250. If we will manage to break it, next stops are $6800-$7050, $7600-$7800, 9k, 10k, 11600 => Target
The measured target of this Wedge is $13500
Stay tuned!
//This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
Since we almost don't have wicks on the top(check it yourself on the Daily chart), we should disregard wicks on the bottom
#1 rule: Wicks to wicks, body to body. If we charting it properly following this rule, we can clearly see a falling wedge and price just bounced from the lower line. That's why it spiked like that recently. $5800 has been tested multiple times and showed a strong support and now BTC testing resistance at $6250. If we will manage to break it, next stops are $6800-$7050, $7600-$7800, 9k, 10k, 11600 => Target
The measured target of this Wedge is $13500
Stay tuned!
//This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
註釋
Falling wedge pattern book examples: i.pinimg.com/originals/1e/5b/70/1e5b705f2a0f5ea7ecd50e87b1439902.jpg
sirforex.net/wp-content/uploads/2016/02/USDCAD-Falling-Wedge.png
optioninvestor.com/oin/images/education/traders/2008-11-30/TC_113008_4.gif
forex-central.net/chart-patterns/img/wedges.jpg
bettertrader.co.uk/.a/6a0162ff9ddd58970d01676218966b970b-800wi
註釋
The very last example from the list above is a rising wedge, to show the difference交易結束：目標達成
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