BTC/USDT: Formed a falling wedge.

BTCUSDT.P BTCUSDT.P
Hello everyone 😃
Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it!

Alright folks, Let's take a quick look on BTC, There's a formed falling wedge on daily TF and I believe that this formation could lead the price to the lower levels.

You might ask yourself why?
Well, The reason is that the last formed DARVAS box at $29000 - $32000 and the historical weekly S/R zone formed around at $28800 are rejecting the price here and filled the potential with bearish momentum, So on High TF, There's a high chance for BTC to gets the ladder to the lower support at $24700.

But the problem is that we can't locate a good entry for Our SHORT after the pattern breaks down (Breaking below the falling wedge).
So, We'll head to lower Time-Frame charts for better understanding of the chart!

Before that, Let's review our Factors on the current chart:

- BTC has formed a falling wedge and it can lead the price to the lower levels.

- If Price break below the pattern it won't be a tradeable movement, Cause it's going to be a neutral movement towards $24700.

On other hand, For those who are looking for opportunities:

- If BTC breaks above $28300, We'll have the chance to enter LONG towards $32000 if with a hold above the marked S/R line!

- If the price rejects below $24700 on daily TF, Then it's more likely for BTC to dive to the lower supports at $22850, $21650 and $20450.

Let's take a quick look on the 4H's chart too 😉


As you can see, There're two potential Price voids which are solidly made by liquidity candles (Explained it as on TV account).

So, As BTC gets the rejection from the higher order-block, I would like to set my eyes on the lower support at $26500, If BTC lose the support there, The it'll be likely for Price void to complete the pattern (Dive to $25300 with liquidity candles).

Also, There'll be more rejection if BTC break below the support zone at $24250, In that case;
Aside of Price void formation, There'll be high chance for BTC to reach $18K and $15K again! (Even lower if I want to be clear).

But, On other hand, If BTC breaks above the S/R zone located at $28300, As I said on High TF chart, Then there'll be a chance for bulls to show the growth towards $30200 one more time and test the resistances till $32000.

Hope you enjoyed the content I created, You can support us with your likes and comments!
Attention: this isn't financial advice we are just trying to help people with their vision.

Have a good day!
Helical_Trades