Wedges Wedges Everywhere

8 mag 2018

Just some simple wedge possibilities for Bitcoin on short timeframe. Watch the breakout points and be careful not to get trapped.

9 mag 2018

Nota

We broke out of the falling wedge as expected, not we are forming a rising wedge that I expect will break down at some point. This rising wedge is likely to reach 9400-9500 before breaking down.

The breakdown of this rising wedge is significant because it could trigger a selloff to sub 9k. Under 9k is probably where a lot of long stop losses are, selling may accelerate if it is breached for any substantial period.

A short entry at the top of this rising wedge may be a good option.