TheRealPeaches

Bitcoin: rising wedge - BREAKOUT SOON!

BITFINEX:BTCUSD   比特币/美元
In my last post on Bitcoin             , I was constructive as long as price remained above $9000. We've since climbed, in a chaotic and choppy structure. This market action can sometimes suggest that air-pockets are forming and the market is awash with weak hands - a significant high may be close - perhaps in price, perhaps in time.

For now, we have a clear upwards wedge . In Bitcoin             , upwards wedges rarely correct to the downside - could this time be different? There are always exceptions. We also note that should this wedge break to the downside, it would also imply a double top formation on larger timeframes - another formation that rarely corrects the downside in Bitcoin             . Bitcoin             hates double tops and breakdowns from upwards wedges .

The chart pattern in any other market would suggest that momentum is slowing. However, Bitcoin             is both idiosyncratic and has overwhelmingly bullish fundamentals.

I'm flat, awaiting a long or short on the break of the upwards wedge .
yes, bitcoin is easy money, never goes down much, just grows and grows always going up like the magic beanstalk
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