Hello traders, We've confirmed a breakout out of the falling wedge & now I'm looking to long the dip on the retest of the falling wedge's trend-line which hypothetically speaking should act as support and get a nice bounce from there and likely head to $49,000+.
The last hourly candle as you can see confirmed a bearish engulfing candle which usually results in bearish continuation on the short term which is nice confluence to retest the falling wedge .
We rejected resistance and printed a lower high as you can see from the grey rectangular box, so now would be the ideal time to retest the wedge before continuation ($49,000+)
25x longs get liquidated just below $46,000 which lines up perfectly with the retest of the falling wedge so I've got orders placed there going into this week.
Stay safe, and hope you all have a great week.
Please like/comment to show support. 👍
The last hourly candle as you can see confirmed a bearish engulfing candle which usually results in bearish continuation on the short term which is nice confluence to retest the falling wedge .
We rejected resistance and printed a lower high as you can see from the grey rectangular box, so now would be the ideal time to retest the wedge before continuation ($49,000+)
25x longs get liquidated just below $46,000 which lines up perfectly with the retest of the falling wedge so I've got orders placed there going into this week.
Stay safe, and hope you all have a great week.
Please like/comment to show support. 👍