BTC weekly
Personally, the old falling wedge has significant meaning to me.
BTC keeps its price above the wedge's resistance line and it turned to be the support line.
It's encouraging situation.
On condition that I say bull's back.
1. BTC needs to keep its price above the long falling wedge resistance line.
2. BTC needs to breakout the hostile zone without any huge fall back.
3. BTC needs to keep the last June's support line.
4 If BTC reach to 7K, we can say that the bull's come.
*BTC made 0.618 bounce up from the last November's drop.
Not sure that it's a typical bounce up before another drop. Or cource it could be a natural path to the 7k or higher. = wait & see.
Anyway prepare some for the worst, put all you have at this phase.
Good luck
BTC keeps its price above the wedge's resistance line and it turned to be the support line.
It's encouraging situation.
On condition that I say bull's back.
1. BTC needs to keep its price above the long falling wedge resistance line.
2. BTC needs to breakout the hostile zone without any huge fall back.
3. BTC needs to keep the last June's support line.
4 If BTC reach to 7K, we can say that the bull's come.
*BTC made 0.618 bounce up from the last November's drop.
Not sure that it's a typical bounce up before another drop. Or cource it could be a natural path to the 7k or higher. = wait & see.
Anyway prepare some for the worst, put all you have at this phase.
Good luck
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