BTC in a falling wedge, breakout or catastrophic dump?

14 Ağu 2019

BTC is reaching the neckline of a major head and shoulders formation (see idea below). However it is in a falling wedge. I estimate that price will fall within the wedge until next support were it can either breakout of the wedge or break the H&S neckline and dump to theoretically 5.5K.

I tend to favor not a straight path down because I believe that BTC will bounce around a range until the first week of December. We shall see.

15 Ağu 2019

İşlem aktif

Critical next 6 hours for BTC. Support failed to bounce the price to resistance of the wedge and the wedge widened. A falling broadening wedge is also noted. Price needs to bounce from here to break out of the wedges, it is estimated it will take 6 hours, otherwise it's a catastrophic dump.