Bitcoin
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Bitcoin Falling Wedge Got Extended

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Ok, here's what we've got... The move upwards followed by the reversal price action yesterday created an extended and a little bigger falling wedge pattern (Bullish).

The Price and RSI Bullish divergences have not yet been fulfilled (Bullish).

Stoch RSI momentum is still directed upwards (Bullish).

Upward Breakout Probability: Medium-High

But always wait for confirmation before putting in your trades.

Watch out for Bitcoin FU moves. We just had one yesterday.


Remember to always, always place your trailing stops at the appropriate levels.

Happy Trading Everyone.

Ron



Check out these still valid mid-term outlook for Bitcoin using:

Support and Resistance Lines
Bitcoin Support And Resistance Bars



The Trend-Based Fibonacci Extension Tool
Trend-Base Fib Extension Is A Magnificent Tool



Elliott Impulse And Correction Waves
Bitcoin Elliott Impulse And Correction Waves Complete



Here's my Bearish outlook:
Warning! We Are So Overdue - Bears Are On The Prowl


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We have price movement to the upside now.
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