BTC Broadening Descending Wedge 4H

12 de jul.

BTC moving inside a broadening descending wedge on the 4H chart.

This shape has a bullish outcome more often than not.

Price action has touched major support twice.

BTC Price is back above the 50 SMA which is a good sign.

Keep an eye on this structure.

NFA

Do your own DD

14 de jul.

Nota

trend structure is breaking

14 de jul.

Nota

Next target if price can hold above the descending resistance

14 de jul.

Nota

15 de jul.

Nota

4H has overcome to 200sma

15 de jul.

Nota

Daily meeting the 50sma and approaching level 60 RSI

15 de jul.

Nota

wick fills gap between 50/100 sma daily

15 de jul.

Nota

16 de jul.

Nota

If Pa holds above daily 50 sma long enough for this 4H cross to occur, there could be more fireworks

16 de jul.

Nota

price rebounded after 4H 50/100 cross

17 de jul.

Nota

This is where this trend comes to a macro trend juncture and will be the final update for this idea. The 3.618 and the descending resistance are are between 67,200 and 66,000. If the PA meets that zone, this is the chart I will be moving to next.

19 de jul.

Nota

Next Idea to come will be from the daily based on what happens at this juncture.

24 de jul.

Nota

In reference too January 16th update above.



Idea Closed.