BTC - Ascending Expanding Wedge target should be 28261
The target for an 'ascending Expanding wedge" is the distance from highest point inside the pattern to the lowest point.
in this case this measurement will give a target of 28261. However BTC has only hit
28600.....so what gives ?
One explanation could be because if we turn on the Daily moving averages it shows BTC bounced at the MA150 which acted as support .
My thought is to avoid getting caught in a trap its best to wait for BTC to close above the 29802 resistance before entering a long to 34k .
Currently I'd still expect BTC is going to target the 34k zone.
in this case this measurement will give a target of 28261. However BTC has only hit
28600.....so what gives ?
One explanation could be because if we turn on the Daily moving averages it shows BTC bounced at the MA150 which acted as support .
My thought is to avoid getting caught in a trap its best to wait for BTC to close above the 29802 resistance before entering a long to 34k .
Currently I'd still expect BTC is going to target the 34k zone.
Komen:
On the flip side any moves below 27500 should be considered a failure.