Bitcoin and Ethereum trading in falling wedge

3 Mar 2020

BTC and ETH are still trading within their respective falling wedges (red lines), BTC is central for the whole crypto sentiment at the moment. I expect bitcoin to move towards 9,200 dollars and quickly fall back down towards 8.4k in the coming days. This thought is motivated by the movement of BTC price within a potential falling wedge and ABC correction that will hopefully precede a wave upwards.

Summary: (timeframes subject to personal interpretation)
-short-term: bullish
-medium-term: neutral
-long-term: undecided (depends on the success of this)

Best of luck trading,
Benji

5 Mar 2020

İşlem aktif

Completing the Y wave within the larger corrective B wave right now, watch out for a consolidation period at the 9.2k price mark and a subsequent retest of the 8.4k lows. Alternatively, we could see the price rise to 9400 (the top of the rising wedge), this, however, is rather unlikely.

8 Mar 2020

İşlem aktif

Invested most of my capital in the buy zone I had outlined a week ago, the analysis was practically spot on! Happy trading!