Falling Wedge on BTC weekly
This is a very bearish chart idea, so do take it with a grain of salt.
If you measure the fibonacci from the bottom of the last broken parabola, we see the .786 retracement level around 4.4k. Not only is this a strong horizontal support area, but this also matches up with a potential falling wedge that can be noted. Currently, we appear to be in a bear pennant as we approach the downward resistance line again (on very low volume). Should BTC continue to track down this wedge, it would be a steep decline until the end of July.
If you measure the fibonacci from the bottom of the last broken parabola, we see the .786 retracement level around 4.4k. Not only is this a strong horizontal support area, but this also matches up with a potential falling wedge that can be noted. Currently, we appear to be in a bear pennant as we approach the downward resistance line again (on very low volume). Should BTC continue to track down this wedge, it would be a steep decline until the end of July.
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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.