Btcusd priceaction somehow inside this wedge this whole time

27 Jan 2022

This is the same wedge i drew a few ideas back on an idea titled a very messy wedge. I just leaned it up a little more here and made both wedge trendlines the same color in this one (white). So far after all the unexpected dumping it has continued to repeat these two trendlines. So I thought it was worth posting a cleaner version of it. Not saying this trend will continue but worth keeping an eye on…its one of the few that still is. I personally still think probability favors breaking up from this wedge. *Not financial advice*

27 Jan 2022

Nota

One thing to mention is at around the 19-20k zone we have both the weekly 200ma and the monthly 50ma overlapping as double reinforced support, so odds of us reaching that 14k h&s breakdown target are very very very small.

2 Feb 2022

Nota

Just noticed the 2 typos above. ‘Ieaned’ was supposed to be ‘cleaned’. And ‘repeat’ was supposed to be ‘respect’. Hope this clarification helps what I was trying to say make sense. My autocorrect is constantly sabotaging me.

5 Feb 2022

Nota

If you click play you will see we have confirmed the breakout on this wedge. Target should be around 54k.