BTC is forming a falling wedge on the daily timeframe.
Kommentar
⋅
If we zoom in on the daily timeframe we can see another, smaller falling wedge that would bring us to resistance trend of the (daily) falling wedge
Kommentar
⋅
On the hourly timeframe we have a broadening descending wedge which would bring us to the resistance trend of the (smaller) falling wedge If the broadening descending wedge plays out it is very likely we will break resistance of the (smaller) falling wedge.
Kommentar
⋅
We are still in the broadening descending wedge We have a bullish divergence which could lead us to resistance trend of the broadening descending wedge and likely followed by a breakout
Kommentar
⋅
Kommentar
⋅
We have a breakout
Kommentar
⋅
We have closed above the resistance trend of the smaller falling wedge and it's now in play On the hourly tf we are forming a broadening descending wedge again
Kommentar
⋅
We might be forming an inverse Head & Shoulders that could lead us to our $7750 target