RISING WEDGE ON 4h! First to $47-48K before rally towards $63K?
Hello everyone,
This is not financial advice, but based on the chart from around 10 days to now I see a rising wedge forming on the 4h chart. If this plays out, BTC should find support somewhere between $47K and $50K, depending on how high it goes before the breakout. I am very bullish on BTC and think a small correction would be perfectly normal since the price has been rallying like crazy for the past 5 days now.
Best bullish scenario imo:
Now to $53K > get rejected > breakout from rising wedge > find support at $50K (but could be $47K) > back to $53K > breakout to $63K!
Give me your thoughts on this in the comments!
This is not financial advice, but based on the chart from around 10 days to now I see a rising wedge forming on the 4h chart. If this plays out, BTC should find support somewhere between $47K and $50K, depending on how high it goes before the breakout. I am very bullish on BTC and think a small correction would be perfectly normal since the price has been rallying like crazy for the past 5 days now.
Best bullish scenario imo:
Now to $53K > get rejected > breakout from rising wedge > find support at $50K (but could be $47K) > back to $53K > breakout to $63K!
Give me your thoughts on this in the comments!