Bitcoin broadening wedge

5 mar 2023

Although in my last idea I suggested to go for a long, things don't look so shiny at the moment. The price didn't respect the outlined bull flag, so I consider that idea invalidated. If we are looking for a pattern, the one that fits the most is an ascending broadening wedge. Of course it is still possible to make a new local high above 25k, but I think it is safer now to look for a short entry. One realistic short trade can be: entry 23-24k, target 19k.