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wildnomad0

Key area for BTC

Bitcoin (BITFINEX:BTCUSD)  
wildnomad0 Updated   
BITFINEX:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Technical Indicators
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trendanalysis chartpattern indicator
We have to stay above the yellow line. If we do, upside not confirmed until we break ~7400 level with good strength. If yellow line breaks, next key support areas are 6k and 4.8k from initial boom up
Comment:
Falling wedge breakout. Next resistance between 7.4-7.5k, but 7.8k is bigger. A breakout of a falling wedge can signify the market has found bottom. I'm not so sure. But it's encouraging to people in the red from longs right now.

Personally I expect a test of 7.8k (pink dotted line), where we paused on the most recent large drop from 9k. Where it goes after depends on how quickly we get there and momentum
Comment:
Comment:
snapshot

Price should retrace to 7.2k-7.4k fib line then up to test 8.3k and maybe 8.8k
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