BTC Ascending Wedge
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I have been posting a lot of bullish ideas for BTC and stocks like COIN lately. Now that I'm seeing something that might be bearish, I feel like I should share. This is a short term pattern on the 15m, but it's a decent looking wedge that is ending near a longer term trendline from the bull flag on the 1D.
BTC has seemingly gone straight up since bottoming out in early July. I'm sure it'll pull back eventually, especially if NQ struggles. For now I'm expecting downside to at least the 63k area where we saw some consolidation and support.
BTC has seemingly gone straight up since bottoming out in early July. I'm sure it'll pull back eventually, especially if NQ struggles. For now I'm expecting downside to at least the 63k area where we saw some consolidation and support.
Nota
So far BTC is not holding the 63,281 level, but it hasn't broken by much yet. If it doesn't hold, I have trendline support below, which may be critical to hold above.Nota
Meant to say it didn't hold the 66k area, but I didn't have that marked here. Next targets are trendline support below and the 63,281 area.
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Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
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