BitcoinLong
Wedge Broken!
Good news: We broke out of the wedge to the upside!
A lot of folks are calling this a bull trap. I disagree with how much divergence there has been. I don't anticipate straight up from here however.
I figure the next four hours will have us reach 50-51K. The numbers I think to watch for a bull reversal for this downtrend are 53K and 56K. If those numbers get surpassed, we are in a really good space.
However, I more anticipate a bit of a push back at 51K, potentially even back to around 44K over the next week. Either way, I think we are in an uptrend in the next month. Here is hoping I am right.
A lot of folks are calling this a bull trap. I disagree with how much divergence there has been. I don't anticipate straight up from here however.
I figure the next four hours will have us reach 50-51K. The numbers I think to watch for a bull reversal for this downtrend are 53K and 56K. If those numbers get surpassed, we are in a really good space.
However, I more anticipate a bit of a push back at 51K, potentially even back to around 44K over the next week. Either way, I think we are in an uptrend in the next month. Here is hoping I am right.
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