So, as we can see BTC is currently moving up and down in this giant rising wedge.
Mostly, price breaks out of rising wedges to the downside but in this case it could as well be to the upside since i consider the uptrend to still be ongoing.
IF we get a confirmed breakout to the upside the target would be around 84.000$.
IF however price would break out to the downside after all, the theoretical target would be around 17.000$ BUT there is tremendous support at around 2 levels : the 30.000 - 33.000$ level as well as the 46.000 - 48.000 level.
My personal bet is that if we were to retrace, it would be to the 46k level OR in worst case the 30k$ level. At the moment i'm not even considering the theoretical 17k level.
Ant thoughts are always welcome.
Happy trading!
Mostly, price breaks out of rising wedges to the downside but in this case it could as well be to the upside since i consider the uptrend to still be ongoing.
IF we get a confirmed breakout to the upside the target would be around 84.000$.
IF however price would break out to the downside after all, the theoretical target would be around 17.000$ BUT there is tremendous support at around 2 levels : the 30.000 - 33.000$ level as well as the 46.000 - 48.000 level.
My personal bet is that if we were to retrace, it would be to the 46k level OR in worst case the 30k$ level. At the moment i'm not even considering the theoretical 17k level.
Ant thoughts are always welcome.
Happy trading!