$BTC $XBT Long the Falling Wedge

May 17, 2018

I will be looking to go long on BTC in the coming hours if this pattern holds up. As you can see, the price refused to go down far enough a couple days ago to touch the bottom of that wedge. There is an alternate support that it has touched three times on. I think that the negative BTC sentiment is being taken advantage of by market whales and we will see some upward progress in at least the short term. I will be looking to add BTC on a breakout of this wedge or on a reset of RSI and Stoch RSI.

May 18, 2018

Note

This remains in play. Hopefully we see a bounce here that eventually leads to a wedge breakout.

May 18, 2018

Note

This trade looking real good. I was able to add BTC around 7930 on Kraken and 7960 on Bitmex. For the moment we seem to be bouncing decently and we are respecting that wedge support.

May 18, 2018

Note

So we got our bounce, but it seems week. It's struggling at the first resistance. We'll see if it can bust through and get to the top of the wedge.