Bitcoin Potential Target $10250 - Breaking-out Falling Wedge

9 Nis 2018

Hi All

As we mentioned before in our previous TA - BTC formed a Falling Wedge which suggests a break out to the upside.
Yesterday and today BTC broke-out the pattern and we can anticipate that it will move higher from here but it has to test some resistances before it reaches our target at 10250ish.
BTC has broken the wedge with no significant volume, not much to be solely bullish due to the low volume. So before we reach our target we have to be very cautious at each resistance level of potential reversal to the down side.
Let's not forget that BEARS are still in control and these resistance levels could be a good invitation level for them to short again.

Resistances as shown in the chart as follow : 7500ish - 8070ish - 8780ish

Then our Falling Wedge target should be around $10240


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Thank you

12 Nis 2018

İşlem aktif

BTC broke out nicely the first resistance at 7500
and tested the second resistance at 8073
we should expect a reversal to test some supports such as 7700-7500-7300 before we continue to the upside and test the 3rd resistance 8780
if we break out that resistance we should reach our Falling wedge target at 10250