#BTC need to clear the 18,500 resistance to Confirm the pattern!
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#BTC UPDATE
BTC is forming this big falling wedge pattern
what is a falling wedge pattern?
The falling wedge is a bullish pattern. Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. Generally, a falling wedge pattern is considered a reversal pattern, although there are examples when it facilitates a continuation of the same trend.
*BTC Need to Clear the 18,500 Resistance to Confirm the Falling Wedge Breakout
* RSI is also sowing some bullish divergences move
*If it conforms to this pattern then according to the pattern we will see a good bounce
Stay tuned I will keep updating
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#BTC UPDATE
BTC is forming this big falling wedge pattern
what is a falling wedge pattern?
The falling wedge is a bullish pattern. Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. Generally, a falling wedge pattern is considered a reversal pattern, although there are examples when it facilitates a continuation of the same trend.
*BTC Need to Clear the 18,500 Resistance to Confirm the Falling Wedge Breakout
* RSI is also sowing some bullish divergences move
*If it conforms to this pattern then according to the pattern we will see a good bounce
Stay tuned I will keep updating
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Note
FOMC Meeting in 2:40 hours
What do you guys think?
we will see a pump or dump
Note
In this four-hour time frame
we can see a breakout of this ascending triangle pattern but we still need a confirm retest so after the FOMC meeting result if BTC drops then it will be a retest for this pattern.
But in case it break the lower support of this pattern, then the pattern will be invalidated
*There is a high probability that BTC will drop after the FOMC meeting
*RSI is also in the overbought range
Stay tuned
Note
As expected BTC drops after the FOMC meeting
Currently it look like a retest of this ascending triangle pattern
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