Bitcoin will falling Wedge?
Can we predict what will be happening?
The objective of this analysis is to look into the possibilities for bitcoin in a very tight frame and it can be valid as a complementary analysis and study.
Tap like if it was helpful and if you enjoy the analysis.
Thanks for that.
I'm realizing that bitcoin has made a distribution and the correction movement may not be as low as it is spoken away.
In the graphics times of 2h and 4h we can clearly see a pennant.
But the expected price retraction is close to 27k.
So this zoom in I'm now showing is that it may be falling down making a falling wedge.
For the price to continue to rise from now on and break this down channel that was formed this week, it is needed to break and confirmed above this POC.
This is the decisive point for the next moves that will follow.
If it doesn't overcome the POC it gives us the possibility of a short with good targets below.
I believe we will not have a trend reversal yet.
For now I'm still positive about the longs, but we shouldn't miss a good and clear opportunity for a short.
The paths I expect are these two lines plotted in green and the other in yellow.
The objective of this analysis is to look into the possibilities for bitcoin in a very tight frame and it can be valid as a complementary analysis and study.
Tap like if it was helpful and if you enjoy the analysis.
Thanks for that.
I'm realizing that bitcoin has made a distribution and the correction movement may not be as low as it is spoken away.
In the graphics times of 2h and 4h we can clearly see a pennant.
But the expected price retraction is close to 27k.
So this zoom in I'm now showing is that it may be falling down making a falling wedge.
For the price to continue to rise from now on and break this down channel that was formed this week, it is needed to break and confirmed above this POC.
This is the decisive point for the next moves that will follow.
If it doesn't overcome the POC it gives us the possibility of a short with good targets below.
I believe we will not have a trend reversal yet.
For now I'm still positive about the longs, but we shouldn't miss a good and clear opportunity for a short.
The paths I expect are these two lines plotted in green and the other in yellow.
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