Bitcoin-USD Daily Falling Wedge Breakout & Near-term Price

See notes on chart.

Kommentar:

After publishing this idea Jul 28, price action descended below the upper Falling Wedge trend line.... oops! While pre-mature breakouts do sometimes occur with this formation (both upwards and downwards), I suspected instead that placement of my upper trend line should be reevaluated. Sure enough, with a couple of minor adjustments, the trend lines now have even better credentials (number of price points touched) and the Falling Wedge (FW) is still in play with no breakout yet and a new minimum target of 11788.

I will update the chart shortly.