Black lines sketch out the ascending wedge seen on lower time frames, which seem appropriate to use since the market is moving in slow motion. We all know where ascending wedges usually go...
We know it's a wedge and not a triangle because the upper and lower trendlines are both trending upwards. Triangles have horizontal or descending resistance.
Breaking to the downside from here will put the Double Top target I've been calling around 6830 within our sight lines, and maybe even that massive bear flag, dropping the price tag below 6.2k.
Measure twice, cut once!
May all of life's treasures be yours.
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We know it's a wedge and not a triangle because the upper and lower trendlines are both trending upwards. Triangles have horizontal or descending resistance.
Breaking to the downside from here will put the Double Top target I've been calling around 6830 within our sight lines, and maybe even that massive bear flag, dropping the price tag below 6.2k.
Measure twice, cut once!
May all of life's treasures be yours.
Like, follow, comment!
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Those of you who acted accordingly after I posted this, good work! Price went right down. BTC tried to cling to that lower support line for 90 minutes but that failed.