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BTCUSD Perpetual Contract

BTCUSD Rising Wedge 1H

By John_rsm
Updated
BTC is forming a potential rising wedge (Yellow lines) and if it plays out then the target would be $41500 approx.
Currently its facing resistance (Purple line of deseeding triangle).
Comment
Price could not break through Purple line and it come down to test the support at the yellow rising line.
Comment
Currently 20 EMA giving support
Comment
Bears showing strength
Comment
Price went through resistance (Purple line of triangle)
Trade closed manually
Price getting support at 20 EMA therefore rising wedge channel get invalides.
btcrisingwedgeBTCUSDChart PatternsTechnical IndicatorsTrend Analysis
John_rsm
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