BTCUSDT breaking below falling wedge right into support level.
It's been a tough couple of weeks trying to push bullish scenarios but this is normal when markets go sideways. Sideways or trading ranges have momentum too so it will keep doing the same until it ceases to do the same.
Right now, we re at the bottom of a falling wedge and price is breaking below trend line support. A false break here could propel the price higher. This setup is one of my favorite setups as it usually gives good RR (if it works).
I do think we have a bunch of buyers waiting at around 42k which is the breakout level of the 08-FEB strong breakout. Market may need to to re-test that level soon, which will coincide with a potential false break setup...
Not trading advice.
Right now, we re at the bottom of a falling wedge and price is breaking below trend line support. A false break here could propel the price higher. This setup is one of my favorite setups as it usually gives good RR (if it works).
I do think we have a bunch of buyers waiting at around 42k which is the breakout level of the 08-FEB strong breakout. Market may need to to re-test that level soon, which will coincide with a potential false break setup...
Not trading advice.
Note
Currently at resistance but looking nice IMO
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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.