The price of Bitcoin (BTCUSD) is in a short-term correction after a strong surge in price to our new All-Time-High, located at $58.500.
I'm expecting a stronger retracement, shaped in a Falling Wedge - this scenario would result in a further increase in price after the correction is completed.
Mandatory for this new emerging trend are the lower highs and the lower lows. As soon as this structure is broken, we will see the price climbing back up again.
Please keep in mind that cryptocurrency markets are volatile. Try to trade the spot markets only and don't use leveraged trading.
Check out my signature below this idea for more information.
Cheers,
Ares
I'm expecting a stronger retracement, shaped in a Falling Wedge - this scenario would result in a further increase in price after the correction is completed.
Mandatory for this new emerging trend are the lower highs and the lower lows. As soon as this structure is broken, we will see the price climbing back up again.
Please keep in mind that cryptocurrency markets are volatile. Try to trade the spot markets only and don't use leveraged trading.
Check out my signature below this idea for more information.
Cheers,
Ares
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