I have updated my chart to show, along with the Falling Wedge I have been tracking, the Rising Wedge created by the higher highs and higher lows after the Spring. I have also drawn in a "Creek" line of resistance, and what it interesting about tonight and tomorrow is: Bitcoin is getting ready to test the resistance being created by those 3 confluent areas:
All of which come together around the 35K area.
BTC could blow past that and begin its run to the upside, but more likely is that we see a rejection down to the bottom of the Rising Wedge at around 33.5K. All good if that happens, but if BTC breaks BELOW that resistance and starts closing candles down there, then all bets are off. I'm watching it like a Hawk this weekend.
- Falling Wedge (Yellow Dotted Lines)
- Rising Wedge (Yellow Dotted Lines)
- Creek (White Line)
All of which come together around the 35K area.
BTC could blow past that and begin its run to the upside, but more likely is that we see a rejection down to the bottom of the Rising Wedge at around 33.5K. All good if that happens, but if BTC breaks BELOW that resistance and starts closing candles down there, then all bets are off. I'm watching it like a Hawk this weekend.
