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Broadening wedge pattern - calm before the storm...?
We can make out a broadening wedge pattern going forward as we have established diagonal support along the lower red line and resistance under the green heartline. A broadening wedge typically indicates increased volatility and with Elon Musk putting bitcoin in his twitter bio and January options expiring it might be that we're in for a crazy week.
Our local region of lows and highs might be increased for this next week which is good for swing traders. Be careful not to get chopped up though.
Our local region of lows and highs might be increased for this next week which is good for swing traders. Be careful not to get chopped up though.
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