UPDATE. BREAKOUT? WELL.. ABOUT THAT.

Hola Everyone.

Hope you're all really nailing this Social Distancing thing -It's been pretty easy here, I don't have to apologize to anyone for trading 24/7 :)


Anyway.

Looks like we "broke out" of this falling wedge. - I say that in quotes, because it's not moving with any strength or assertion... but it's moving. So I will take it.

We're making higher highs, and higher lows -so we're technically in an uptrend.

Allowing for some decent scalp trading with higher leverage on the way up. I am NOT shorting this while we climb up.. Thinking about MAYBE shorting once we start showing signs of reversal.

1HR MACD just turned BULLISH, 2HR ROLLING.

RSI -BULLISH ** EDIT - - After posting, noticed some BEARISH DIVERGENCE that just formed.. but we may have seen it play out on the last move to $6682

*If you're trying to time the swings in this move up, I'm using SQUEEZE MOMENTUM indicator, it works REALLY WELL for these type of scalp trades. Watch it go through a cycle or two if you don't have any experience with it, you should catch on pretty easily.

***WATCHING THE WHITE LINE on my chart. It is the SPX500 -We could see BTC start to mirror at any time, so keep an eye out!

Measured move for the FALLING WEDGE is: $6985 -will take 60% profits here.

Next POI is $7900 and a ton of resistance above. If we make it beyond 7K, I will be looking to enter a SHORT down to $5.8 - $4.8. (those numbers could be off, have to check my Gann Fans).

Will ladder in my shorts -adding more at each pull back.

What are you guys doing with this PA? Let me know below!

Thanks!