Rising wedge after breaking down from uptrend on Jan 16th - BTC
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It appears we have a rising wedge which looks to be playing out nicely.
Summary on rising wedge:
1: Broke down from an uptrend on January 16th, which after started the rising wedge formation (which is usually in most cases a break to the downside)
2: ETH is hitting new ATH's which is bearish for bitcoin (gives me an edge to short on the potential breakout when it happens)
3: Bitcoin still hasn't reached my price target of $32,999 and i'll remain solvent longer than the markets can remain irrational until this happens.
If you have any further questions please feel free to comment!
It appears we have a rising wedge which looks to be playing out nicely.
Summary on rising wedge:
1: Broke down from an uptrend on January 16th, which after started the rising wedge formation (which is usually in most cases a break to the downside)
2: ETH is hitting new ATH's which is bearish for bitcoin (gives me an edge to short on the potential breakout when it happens)
3: Bitcoin still hasn't reached my price target of $32,999 and i'll remain solvent longer than the markets can remain irrational until this happens.
If you have any further questions please feel free to comment!
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