Bitcoin: Rising Wedge? Reversal pattern showing up
Rising Wedge seems to be forming.
Potential entry point below support, stop-loss above resistance.
Target at major resistance level, around 11500
What's your opinion about it?
Your comments are welcome!
Potential entry point below support, stop-loss above resistance.
Target at major resistance level, around 11500
What's your opinion about it?
Your comments are welcome!
Comment:
Broken resistance level: bearish pattern now looks to be turning to bullish
It could be interesting to wait for a pullback to the broken resistance before entering a LONG order around 19000.
Stop loss around 17000 should fit
It could be interesting to wait for a pullback to the broken resistance before entering a LONG order around 19000.
Stop loss around 17000 should fit
Comment:
It looks like a pullback has indeed happened..
Previous resistance level turned into support level, which is now holding.
RSI shows room for growth, while bearish pressure could be weakening, according to DMI.
Let's see if price breaks through 19000 level
Previous resistance level turned into support level, which is now holding.
RSI shows room for growth, while bearish pressure could be weakening, according to DMI.
Let's see if price breaks through 19000 level
Comment:
Triggered LONG entry order at 19000 level, once bounced from new support level
Trade active
Support and resistance levels are holding..
MACD divengence is still present, but next MACD crossover could be delayed due to bulls pushing harder than before
We'll see if resistance level will hold again
Breakout time could be approaching.. will it be below support or above resistance?