BINANCE:ARNBTC   Aeron / Bitcoin
Looking to take a 45 - 60% profit over 3-4 day period risking 30% on a $1000 investment for a risk/reward ratio of 2 . Basing bounce prediction on the descending wedge pattern that has been forming over the last four days on the 1 hour chart.

Buy zone is over the next day but could take longer to develop. Price will bounce/consolidate at the .236 Fibonacci level around 21000 sats             with a dip below. Buy orders are set below 21000 sats             and above 18000. Look for an over-extended RSI with a steep decline below 30 and curling back up before 20 and the 7 period MA with a bounce back up toward/crossing the 25 period MA.

I'm going wait to see that it does confirm indicators and pattern breakout to bounce back up as the price usually dips below support initially. I have stop losses set for around 13000 but could look to hold and average down if it dips that low and the chart still looks good to bounce.

There are 2 sell targets on the chart at previous support levels with explanations in the notes.

A trade 7-10 days from now could potentially trade better as the price could go as low as 15000 sats             and I am medium term bearish on ARN             at least to that level, potentially further. It has been in a down-trending pattern for almost 3 week and with the decrease in volume , will need to consolidate more at lower levels before breaking out.



Hi seems AEN breaks up the wedge. would love to see your opinion.
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