Bitcoin
Long

BTCUSD - Approaching Falling wedge break out

297
BTCUSD recorded 17% Gain today after price bounced from falling wedge support formed on Daily and 3D Chart.

Falling wedge resistance is at 8700-8800$ Level, Bitcoin needs to break above 8800$ and build support above this level for a bullish trend change.

As long price stays below 8800$, there could be a possibility of another leg down to 6800-7200$ before major bullish trend change.

Overall, I am expecting a major rally to 18,000$ in the next few months before halving.

Plan of action:

- Either I will start building LONG Position around 7000-8000$ price level or I will start building LONG Position after price breakout above 8800$- Whatever comes first.


Check my long term price outlook view here:

Bitcoin Can reach above 18000$ before next halving - LONG



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