Bitcoin 8Hr Chart - Pullback?
Hey Traders,
Bitcoin is in this Large rising Wedge. 68% chance it broke to the downside.
It clears the 58k support abd goes straight to 51k area.
Alot of time on this bullish market it breaks higher and it didn't continue to rise above
64K, instead it pullback 21%
The measured move of this Downside is potentially down to $43.700
Whats really common after a breakout is price action will go revisit the breakout confirmation line...
IF you get a move back to the 58k Level and the price action is NOT able to break back above the $59 - 60k it will basically confirms the Break to the Downside.
Don't let emotions take control and don't get lured into the hype.
Thanks for considering my analysis and market perspective.
i hope you find it helpful. Lets Trade
Bitcoin is in this Large rising Wedge. 68% chance it broke to the downside.
It clears the 58k support abd goes straight to 51k area.
Alot of time on this bullish market it breaks higher and it didn't continue to rise above
64K, instead it pullback 21% The measured move of this Downside is potentially down to $43.700
Whats really common after a breakout is price action will go revisit the breakout confirmation line...
IF you get a move back to the 58k Level and the price action is NOT able to break back above the $59 - 60k it will basically confirms the Break to the Downside.
Don't let emotions take control and don't get lured into the hype.
Thanks for considering my analysis and market perspective.
i hope you find it helpful. Lets Trade
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