As you can see there's a wedge forming on the 4H. Many traders thinking
XBTUSD.P
will either go straight to 4K or to 10K in the next couple weeks are delusional. I have reason to believe it will trade sideways within the means of this wedge, until inevitably progressing into the next market cycle, which in
BTCUSD
's case will most likely be down.
Will it be down to 4K? Who knows. An 80% retrace seems plausible as it has happened on numerous occasions in the past.
Guess there's only one way to find out
-Calvin
XBTUSD.P
will either go straight to 4K or to 10K in the next couple weeks are delusional. I have reason to believe it will trade sideways within the means of this wedge, until inevitably progressing into the next market cycle, which in
BTCUSD
's case will most likely be down. Will it be down to 4K? Who knows. An 80% retrace seems plausible as it has happened on numerous occasions in the past.
Guess there's only one way to find out
-Calvin