BTC Broadening Descending Wedge 4H

12 TemBTC moving inside a broadening descending wedge on the 4H chart.

This shape has a bullish outcome more often than not.

Price action has touched major support twice.

BTC Price is back above the 50 SMA which is a good sign.

Keep an eye on this structure.

NFA

Do your own DD

14 Tem

Yorum

trend structure is breaking

14 Tem

Yorum

Next target if price can hold above the descending resistance

14 Tem

Yorum

15 Tem

Yorum

4H has overcome to 200sma

15 Tem

Yorum

Daily meeting the 50sma and approaching level 60 RSI

15 Tem

Yorum

wick fills gap between 50/100 sma daily

15 Tem

Yorum

16 Tem

Yorum

If Pa holds above daily 50 sma long enough for this 4H cross to occur, there could be more fireworks

16 Tem

Yorum

price rebounded after 4H 50/100 cross

17 Tem

Yorum

This is where this trend comes to a macro trend juncture and will be the final update for this idea. The 3.618 and the descending resistance are are between 67,200 and 66,000. If the PA meets that zone, this is the chart I will be moving to next.

19 Tem

Yorum

Next Idea to come will be from the daily based on what happens at this juncture.

24 Tem

Yorum

In reference too January 16th update above.



Idea Closed.