Possible broadening descending wedge on BTC Bitcoin?
Brace yourself: First bullish bitcoin post in months.
Looks like a possible broadening descending wedge. Looking for a bottom of this pattern to complete at 2800-3100 (200 weekly moving average confluence).
We should see a significant rally to the 4800-5100 level from the breakout of this pattern.
Will this be the bottom? I don't know. I am still holding onto my 1365 target for the true capitulation bottom.
Long target: 2800-3100
TP: 4900
Looks like a possible broadening descending wedge. Looking for a bottom of this pattern to complete at 2800-3100 (200 weekly moving average confluence).
We should see a significant rally to the 4800-5100 level from the breakout of this pattern.
Will this be the bottom? I don't know. I am still holding onto my 1365 target for the true capitulation bottom.
Long target: 2800-3100
TP: 4900
코멘트:
I am also look at the 2500 level as a potential bounce point. The broadening descending wedge support zone is there, as well as a huge volume profile node (refer to this idea where I predicted this scenario MANY months ago)
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