BitcoinMis à jour BTCUSD BITCOIN Technical Analysis: Top of Ascending Wedge!!
BTC seems to have formed an ascending wedge formation since the sell off on 10 May 2020, which is traditionally a bearish omen.
Now, BITCOIN BTCUSD is currently testing the top resistance of the wedge @ 9930, for a breakout above it, look for an hourly closing candle above 9930 - 9950 region for a BUY opportunity. From there, we look for BTC to retest the major resistance @ 10000.
A rejection by the wedge top would bring u to the nearest support @ 9550 - 9600 region, which coincidentally overlaps with the 50 moving average (MA) line, further strengthening this base as a strong support, offering us a quick SHORT opportunity.
Therefore, I would not suggest buying in at this time, but wait for the pullback to the bottom of the wedge then rebound confirmation OR a breakout above the wedge with bullish candle pattern confirmations.
As always, trade carefully and with stop loss orders. Feel free to like my post if you like what I shared, thank you!
Best Regards,
GOLD D ROGER
A humble, beginner trader
Now, BITCOIN BTCUSD is currently testing the top resistance of the wedge @ 9930, for a breakout above it, look for an hourly closing candle above 9930 - 9950 region for a BUY opportunity. From there, we look for BTC to retest the major resistance @ 10000.
A rejection by the wedge top would bring u to the nearest support @ 9550 - 9600 region, which coincidentally overlaps with the 50 moving average (MA) line, further strengthening this base as a strong support, offering us a quick SHORT opportunity.
Therefore, I would not suggest buying in at this time, but wait for the pullback to the bottom of the wedge then rebound confirmation OR a breakout above the wedge with bullish candle pattern confirmations.
As always, trade carefully and with stop loss orders. Feel free to like my post if you like what I shared, thank you!
Best Regards,
GOLD D ROGER
A humble, beginner trader
Note
M5 timeframe outlook
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.