BitcoinLong
BTC Breaking out of descending broadening wedge
BTC has been in a descending broadening wedge for a little while now, and has tested the top side of it more than 5 times, and the bottom twice. This is a bullish pattern obviously, and now BTC is almost about to confirm a close above of it.
BTC is most likely going to hit a measure move of at least $12000, but there needs to be a confirmed 2H candle close above the 200 MA coming in around $11630. If there is a confirmed close above that, it is extremely likely for $12000 to be hit.
- There is also confirmed 1H and 2H bullish divergence likely initiating this positive momentum.
- 1H and 2H stochs and RSI are very positive and erect, with plenty of room to go higher.
Be wary that there still could be a drop in price from here, as a possible test of the breakout point may be possible.
BTC is most likely going to hit a measure move of at least $12000, but there needs to be a confirmed 2H candle close above the 200 MA coming in around $11630. If there is a confirmed close above that, it is extremely likely for $12000 to be hit.
- There is also confirmed 1H and 2H bullish divergence likely initiating this positive momentum.
- 1H and 2H stochs and RSI are very positive and erect, with plenty of room to go higher.
Be wary that there still could be a drop in price from here, as a possible test of the breakout point may be possible.
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