BTC Steps Towards $11.5k = The Broadening Descending Wedge

28 May 2020

This is a pattern we have seen a few times are always excited about finding it, It functions similar to a falling wedge. It is bullish and we can usually rely on it with some high degree of probability that it will continue upwards. We are also found in two pennants, so some type of catastrophic news in the markets could curtail us lower, I think a test of the B point in the wedge will prevail. That would put us up near a box range of 10.5k -11.5k

As we gear up for longer-term trading styles, let's keep a clear and focused mindset knowing that this could swing either way.

YOu can learn more about these patterns points here: centralcharts.com/en/gm/1-learn/7-technical-analysis/27-chart-patterns/504-descending-broadening-wedge

Always be investing.
But if you are trading, Always use a stop loss!