Bitcoin dropped to the bottom of the falling wedge and experienced a strong bounce from $6160 support. Wait for break above wedge resistance to enter trade. StochRSI approaching oversold and price is fast approaching the wedge apex for a breakout before the end of November. Bitcoin has been garnering higher lows since June and has found strong support on the uptrend so I am anticipating a break to the upside within the next 2 weeks. This should take BTCUSD above the 50 and 100 DMA to the 200 DMA at around $7k.
Target Range 1: $6750 - $6880
Target Range 2: $7030 - $7110
Target Range 3: $7400 - $7600
Tether and Bitfinex causing exchange discrepancies again so I will be sticking to the Coinbase charts for the time being for until the tether fud clears. This is a short term view, who knows what the SEC will decide to do on 29 December 2018 when the Van Eck bitcoin ETF decision is either deferred one last time, rejected or approved. Until then I don't see price dropping below our $6K support.
Good luck and happy trading!
Target Range 1: $6750 - $6880
Target Range 2: $7030 - $7110
Target Range 3: $7400 - $7600
Tether and Bitfinex causing exchange discrepancies again so I will be sticking to the Coinbase charts for the time being for until the tether fud clears. This is a short term view, who knows what the SEC will decide to do on 29 December 2018 when the Van Eck bitcoin ETF decision is either deferred one last time, rejected or approved. Until then I don't see price dropping below our $6K support.
Good luck and happy trading!
Commento:
Symmetrical triangle not falling wedge! Mash brain today!
