Formation has finally completed and is confirmed failed.
Expect it to continue it's descend towards 8.5k-9.1k, sub 8k within 2-4 weeks. As many suggest a reverse above the wedge, I guarantee Bitcoin will not rebound. It will fall below the formation, then attempt to retake the formation (called 'partial ascend') and obviously fail. I have attached an older post down below to show how beautifully it completed the triangle (within the wedge), plus an older weekly chart showing exactly what's happening.
Smart traders will ride this newly confirmed downtrend with it's highs and lows (short & long).
Cheers!
(zoom in/out for more detail)
Expect it to continue it's descend towards 8.5k-9.1k, sub 8k within 2-4 weeks. As many suggest a reverse above the wedge, I guarantee Bitcoin will not rebound. It will fall below the formation, then attempt to retake the formation (called 'partial ascend') and obviously fail. I have attached an older post down below to show how beautifully it completed the triangle (within the wedge), plus an older weekly chart showing exactly what's happening.
Smart traders will ride this newly confirmed downtrend with it's highs and lows (short & long).
Cheers!
(zoom in/out for more detail)
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Short till around 7.5k today and tomorrow, then reversal.
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Update: Could go as low as 6.9k-7.1k
You're welcome