Bitcoin conflicted? New Falling wedge or Continuation pennant?
What a day for bitcoin... The battle between the bulls and bears goes on with a new falling wedge just formed on the hourly charts and a continuation pennant to the downside! The overall falling wedge must take precedent though due to the overall oversold conditions on the daily chart and being below the 200ma. We could quite easily see a move to 8200 and so I'm moving my stops from my earlier trade down a little bit to safeguard my longs..
About me: I'm a retail day trader (trading since 1993). Most ideas here are for short time frames and become profitable quickly. I take profits fast as things change fast. 1-2-1 mentoring sessions available.
Telegram coming soon.
Telegram coming soon.