What can be the BTC's next move?
Hello everyone ! Today I want to share with you some informative things. There was a rising wedge pattern in the BTC and it broke the support of it. Here are the some statistical knowledge of rising wedge pattern that I found interesting and informative.
- In 82% of cases, the exit is bearish.
- In 55% of cases, a rising wedge is a reversal pattern.
- In 63% of cases, the pattern’s price objective is achieved when the support line is broken.
- In 53% of cases, the price makes a resistance pullback on the rising wedge’s support line.
- In 27% of cases, false breaks (false exits) appear.
The target of it comes from the height of the first swing and is shown with the pink lines. Statistics are given and we are gonna follow it.
Have a nice one !
- In 82% of cases, the exit is bearish.
- In 55% of cases, a rising wedge is a reversal pattern.
- In 63% of cases, the pattern’s price objective is achieved when the support line is broken.
- In 53% of cases, the price makes a resistance pullback on the rising wedge’s support line.
- In 27% of cases, false breaks (false exits) appear.
The target of it comes from the height of the first swing and is shown with the pink lines. Statistics are given and we are gonna follow it.
Have a nice one !
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