Bitcoin - Trading in a rising wedge with good structure

9 de dez. de 2022

Morning all,

Full TA in the video as usual. Some notes:


- Bitcoin trading in a larger rising wedge with great structure...WILL IT CONTINUE?.
- SPX, NASDAQ, ES1 currently moving up after 5 days of losses however all need to test strong resistance again.
- AREA OF VALUE - looking for a move from Bitcoin to the top of the pattern for a possible short opportunity or to the bottom of the pattern for a long opportunity.
- If Bitcoin breaks higher then you could be looking at $19000 BTC but if Bitcoin puts in a lower high then a new pattern could be forming. (All in the video)
- CAUTION - FED meeting around the corner. Expect a lot of volatility. Will the FED go 50BP's or 75BP's. Markets are pricing in 50BP's. 75 would be damaging.
- Pre - markets are currently green suggesting a continuation upwards for the SPX, ES1 short term
- Possible head and shoulders forming on the daily time frame for the SPX.

***Apologies - i ran out of time. Look at CME futures. Broken above resistance - will it hold?***

Be patient and stick to your strategy!

Please hit the boost button if you like this update.

Back tomorrow.

Thanks

SIMON BPOI