ðĨ Bitcoin Classic Falling Wedge: Bullish Pattern
Bitcoin has been seeing some strong declines over the past week, with a high to low of around -25%. Over this period of time, there's been several small bumps in Bitcoin's price. During this time, a classic falling wedge has been formed.
Falling wedges are, according to theory, bullish patterns. This is therefore a bullish potential trade on BTC.
Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.
On the chart Iâve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
Happy trading!
Falling wedges are, according to theory, bullish patterns. This is therefore a bullish potential trade on BTC.
Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.
On the chart Iâve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
Happy trading!
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