Bitcoin possible rising wedge pattern.
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Hi people, as seen in my last chart i had a target from 9150-9500, i want to say that the current targets on this will be 9070-9500 .
Bitcoin had a great move upwards and now we are facing the 200 daily EMA which is at 9070.
As seen on the chart i believe bitcoin is in a rising wedge and it is a bearish pattern.
the 4hr stochastic is currently holding the bullish control zone which makes me believe it can still move up to around 9070 and from there i will place trades as follow:
1. I will close my long position around 9k-9.1k
2. i will flip short when there is a selloff ( this will be when sellers step in around these levels)
3. i will hold this short with a tight stop loss and a low leverage ( probably 5x up to 10x) until it reaches around 8.2k 7,8k , as targets are not very clear for me on this.
Also id like to say that i am not a bear and i want bitcoin to head into 10k but this is coming from a analyzing perspective.
I hope this helps those who read this to see clear in this big storm of price action.
I Wish You all Good Luck Trading!!!! <3
Bitcoin had a great move upwards and now we are facing the 200 daily EMA which is at 9070.
As seen on the chart i believe bitcoin is in a rising wedge and it is a bearish pattern.
the 4hr stochastic is currently holding the bullish control zone which makes me believe it can still move up to around 9070 and from there i will place trades as follow:
1. I will close my long position around 9k-9.1k
2. i will flip short when there is a selloff ( this will be when sellers step in around these levels)
3. i will hold this short with a tight stop loss and a low leverage ( probably 5x up to 10x) until it reaches around 8.2k 7,8k , as targets are not very clear for me on this.
Also id like to say that i am not a bear and i want bitcoin to head into 10k but this is coming from a analyzing perspective.
I hope this helps those who read this to see clear in this big storm of price action.
I Wish You all Good Luck Trading!!!! <3
Trade attivo
longs closed, short position in.
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