Here we have 2 of the many scenario for the following BITCOIN chart against USD :
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1 -BTC FORMED A FALLING BROADENING WEDGE [WHEN IT STARTED DROPPING HARD] , AND IT BROKE OUT . THIS PATTERN IS A BULLLISH PATTERN . SO THE TARGET OF THE PATTERN IS AROUND THE ATH OF BTC AROUNG 65K [broadening falling wedge drawn with blue lines in the chart ]
2 -this is the second idea , and here is where things gets interesting : i mean , forget the falling broadening wedge of the previous point for 10 minutes , now what i have done is divided the chart in A & B. look closely at those areas which are very similar , i mean both have a first run up , . then they both formed a rising wedge [ drawn in black] , which on the A case lead to a drop and on the B i cant say .however look also on the volume section how the volume in A is matching the volume in B , they both are sloped down ..... lets see what happen ....have a nice trading session
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1 -BTC FORMED A FALLING BROADENING WEDGE [WHEN IT STARTED DROPPING HARD] , AND IT BROKE OUT . THIS PATTERN IS A BULLLISH PATTERN . SO THE TARGET OF THE PATTERN IS AROUND THE ATH OF BTC AROUNG 65K [broadening falling wedge drawn with blue lines in the chart ]
2 -this is the second idea , and here is where things gets interesting : i mean , forget the falling broadening wedge of the previous point for 10 minutes , now what i have done is divided the chart in A & B. look closely at those areas which are very similar , i mean both have a first run up , . then they both formed a rising wedge [ drawn in black] , which on the A case lead to a drop and on the B i cant say .however look also on the volume section how the volume in A is matching the volume in B , they both are sloped down ..... lets see what happen ....have a nice trading session
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