BITCOIN Short-term outlook. $9400 in play?
This is a very quick synopsis of what I see on the very short-term price action of Bitcoin.
I focus on the 4H chart and the Falling Wedge that has emerged since the June 01 High, within the Channel Up. As seen on the chart, the move count between every Lower High (A) and Lower Low (D) of the pattern is identical, with the obvious exception though of the (D) step on June 04 which instead of being lower than (B), it was in fact higher.
Other than that (especially the 2nd and 3rd (current) phase of the Falling Wedge, where the LMACD is also repeating the same sequence) the movement is quite similar. If this plays out perfectly, then BTC should give one more dip to (F) and then rise to a Lower High (A) around $9400.
Do you think this short-term occurrence will hold? Feel free to share your work and let me know in the comments section!
Please like, subscribe and share your ideas and charts with the community!
I focus on the 4H chart and the Falling Wedge that has emerged since the June 01 High, within the Channel Up. As seen on the chart, the move count between every Lower High (A) and Lower Low (D) of the pattern is identical, with the obvious exception though of the (D) step on June 04 which instead of being lower than (B), it was in fact higher.
Other than that (especially the 2nd and 3rd (current) phase of the Falling Wedge, where the LMACD is also repeating the same sequence) the movement is quite similar. If this plays out perfectly, then BTC should give one more dip to (F) and then rise to a Lower High (A) around $9400.
Do you think this short-term occurrence will hold? Feel free to share your work and let me know in the comments section!
Please like, subscribe and share your ideas and charts with the community!
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