Hey guys. BTC is forming a very good looking falling wedge- reversal on 4H. The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. i think there are 2 breakouts possible.
Breakout on number 1: We'll possible see a very weak bounce out of the falling wedge and the price will consolidate around 3550 for a while.
Breakout on number 2: This will make the Falling wedge reversal complete which is an bullsih sign, this bullish bias cannot be realized until a resistance breakout (3558) we can expect a move to the top of the falling wedge (4402) after we have smashed the resistance at (3558). If we can't break the resistance at (3558) it will be more likely to see lower lows.
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Breakout on number 1: We'll possible see a very weak bounce out of the falling wedge and the price will consolidate around 3550 for a while.
Breakout on number 2: This will make the Falling wedge reversal complete which is an bullsih sign, this bullish bias cannot be realized until a resistance breakout (3558) we can expect a move to the top of the falling wedge (4402) after we have smashed the resistance at (3558). If we can't break the resistance at (3558) it will be more likely to see lower lows.
Please follow and like to support me
Trade Safe
Sedat
