BTC short term strategy

Hi everyone

this is quick review of probable strategy on Bitcoin chart:

BTC is now moving into a tinny bullish wedge on 4H timeframe chart and hit

top and bottom of the wedge several times.

if the price could manage to break above the wedge line we can expect

more upward pressure but in the bigger view the market still bearish

so near term target between 52K to 54K is expected.

Enjoy the market

Kommentar:

remember that important point... as I mentioned in bigger view we still in bear market and as you can see on my chart below price is moving into a huge triangle but from intraday charts we can see price is moving into a small descending wedge. and closing below the wedge can lead the price downward more.

Trade ist aktiv:

price is still moving into the wedge. below the 48200 resistance level in bear side yet. lets see which side of the wedge cross first

Kommentar:

I'm watching carefully 45100$ key level. price can bounce back upward strongly or more drop that lead us around 43000$ key level.

Trade ist aktiv:

finally bounced upward from the bottom line of the wedge and broke the top line now we can expect the price hit between 52K and 53K resistant levels

Trade geschlossen: Ziel wurde erreicht:

as expected BTC didn't go above our strong resistance around 52k. new update will come soon

Kommentar:

see my new update here