Bitcoin in rising wedge - breakout trade - target 10800 $
Dear traders and followers,
the Bitcoin price moves within an rising wedge. This pattern is usually followed by down movement after a confirmed breakdown.
The first breakdown failed and turned into a bear trap. The market has confirmed a higher low which is a buy signal.
We expect another up movement before big sellers entering the market. Target for this move after breakout from down trend line is at 10800 $
MACD indicator on daily and 12 hour chart near bullish crossing of baselines and the sell volume is near 0 line, expect volume turning green which is buy signal.
Breakdown target after wedge break is at 7500 $.
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the Bitcoin price moves within an rising wedge. This pattern is usually followed by down movement after a confirmed breakdown.
The first breakdown failed and turned into a bear trap. The market has confirmed a higher low which is a buy signal.
We expect another up movement before big sellers entering the market. Target for this move after breakout from down trend line is at 10800 $
MACD indicator on daily and 12 hour chart near bullish crossing of baselines and the sell volume is near 0 line, expect volume turning green which is buy signal.
Breakdown target after wedge break is at 7500 $.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Please PM us if you have any question or requests
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
