Shinn

BTCUSD falling wedge pattern

Long
BITFINEX:BTCUSD   Bitcoin
Falling wedge pattern, generally has a bullish breakout. Whether you want to wait for a bullish breakout or not is up to you. Otherwise, you can try to get an entry at the bottom of the wedge (and maybe take some profit at the top if the breakout fails), although with all the possible support levels in the 8000-9000 range, it's hard to tell where BTC is going to stop its decline. Bottom of the wedge should be around 8500 here. Stop loss should be below 7700.

P.S: BTC made the same pattern in early 2014 after the 2013 bubble.
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.