BITCOIN REVERSAL RISING WEDGE - DONT MISS THIS
What is a Rising Wedge? What helps us look at it and confirm it?
✅ Upward Trend: The pattern typically forms during an upward price movement.
✅ Converging Trendlines: Both the support and resistance trendlines slope upwards, but they converge as the pattern matures.
✅ Volume: A declining volume accompanying the formation often strengthens the pattern's bearish signal.
✅ Breakout: Confirmation of the pattern occurs when the price breaks below the lower support trendline, where we short
I've been calling this reversal since November 17 on X
WHO AM I?
- New to chart here, but a20K Followers on X @dogdaddevan constantly posting
- MEXC Official Partner
- I bought ATL SHIB Nov 2020 (only vol that day) and sold early like a bozo.
✅ Upward Trend: The pattern typically forms during an upward price movement.
✅ Converging Trendlines: Both the support and resistance trendlines slope upwards, but they converge as the pattern matures.
✅ Volume: A declining volume accompanying the formation often strengthens the pattern's bearish signal.
✅ Breakout: Confirmation of the pattern occurs when the price breaks below the lower support trendline, where we short
I've been calling this reversal since November 17 on X
WHO AM I?
- New to chart here, but a20K Followers on X @dogdaddevan constantly posting
- MEXC Official Partner
- I bought ATL SHIB Nov 2020 (only vol that day) and sold early like a bozo.
トレード稼働中:
CHARTED THIS PATTERN PERFECTLY SO FAR now will we see a breakout at the bottom of the wedge to get back to to 34K? Time will tell
トレード稼働中:
This is still active on the 4H mark as a possible false breakout up. We will retest 39K as support and if it holds we got to 47K if it fails we are back in the wedge and headed down
トレード稼働中:
Updated with daily chart so people can understand better
www.tradingview...chart/tUdHnAWD/?symbol=BIN...
www.tradingview...chart/tUdHnAWD/?symbol=BIN...