Wedges Wedges Everywhere

8. Mai 2018

Just some simple wedge possibilities for Bitcoin on short timeframe. Watch the breakout points and be careful not to get trapped.

9. Mai 2018

Anmerkung

We broke out of the falling wedge as expected, not we are forming a rising wedge that I expect will break down at some point. This rising wedge is likely to reach 9400-9500 before breaking down.

The breakdown of this rising wedge is significant because it could trigger a selloff to sub 9k. Under 9k is probably where a lot of long stop losses are, selling may accelerate if it is breached for any substantial period.

A short entry at the top of this rising wedge may be a good option.