Rising wedge on the daily so I've set a target equal to the size of the wedge itself (7%) which is drawn in as the rectangle. We had the same pattern play out on the 4hr yesterday which I think has only served to add confluence to this larger pattern. I'm trying not to be bias here, I know I've been bearish for a couple of weeks now but I personally can't see much for a bullish setup apart from a double bottom bounce off the marked 7270 support level. I'll update if that plays out and mark out some targets I would be looking for if I were to enter a long position.
Thanks for reading.
@cryptoisascam
Thanks for reading.
@cryptoisascam
Kommentar:
7270-7230 is a great area for a bounce as well. Forgot to mention that's where the 61.8 fib lines up and it's also an area where a lot of stop losses are placed by retail traders.