🔥Hey guys! Following up with our previous idea in from yesterday in which we put those trend lines into the wedge and indicated that'd we'd have to see Bitcoin hold above our 2nd line which it hasn't and in turn has seen that drop happen following the $22,000 mark rejection.
🔥While we did make it past $22,000 that was thanks to an unusually large buy order and volume of 466 Bitcoin for that 15 minute candle and in return you can see the sell orders that struck after. Now we've formed this resistance trend line that's blocking us but Bulls will have to make a move at some point further less risk us getting pulled down.
🔥We're approaching the end of the wedge and that always marks a dramatic move that usually happens as one side or the other has to win. If bitcoin can't break above on the chart then it could bring us to the end of the wedge in which case bears can take advantage and pull us down below the rising trend line. That would also cause us to lose the 200 EMA which is what we need right now to hold.
I'm gonna leave the idea here but watch this wedge, this is gonna dictate a lot as this tug a war is gonna come to a round end soon and if we're lucky Bulls will use the end of the wedge to cause a breakout and send us up otherwise it could be vice versa. So keep posted and leave a like and follow for more as always! Thank you.
~ Rock
🔥While we did make it past $22,000 that was thanks to an unusually large buy order and volume of 466 Bitcoin for that 15 minute candle and in return you can see the sell orders that struck after. Now we've formed this resistance trend line that's blocking us but Bulls will have to make a move at some point further less risk us getting pulled down.
🔥We're approaching the end of the wedge and that always marks a dramatic move that usually happens as one side or the other has to win. If bitcoin can't break above on the chart then it could bring us to the end of the wedge in which case bears can take advantage and pull us down below the rising trend line. That would also cause us to lose the 200 EMA which is what we need right now to hold.
I'm gonna leave the idea here but watch this wedge, this is gonna dictate a lot as this tug a war is gonna come to a round end soon and if we're lucky Bulls will use the end of the wedge to cause a breakout and send us up otherwise it could be vice versa. So keep posted and leave a like and follow for more as always! Thank you.
~ Rock
