BTC#34 -- 08/01/2021 Rising Wedge Again?!

8 Jan 2021

Hello together,

Here is my daily update for you again.

Puhhh where do I start best. There was quite a bit going on in the last 24h. We first broke out above our rising wedge and then saw a massive sell-off that hit our SL. The bulls were extremely strong and immediately bought up the dump. However, we broke out to the downside again during the night. Again, we were extremely bought up. We even had a retest out of our rising wedge to the downside. Which is usually a confirmed breakout to the downside. However, the bulls were able to fight their way back into our chart pattern.
In my opinion, our rising wedge is still active and we will see another very strong move soon.

We definitely need to keep an eye on the Support and Resistances (Orange). Also, our old ATH which has become support now. Good sign.

This morning we broke the bearish resistance (white line). Here we opened our trade, which is still running with massive profit. Here we have already realized two times profits and leave our SL at our entry, if necessary we still rise further.

It is quite possible that we pump up to 50k, if we do not see again at about 45k a massive sell-off.

I hope you were able to secure good profits!

My prediction of BTC#33 is going exactly according to plan at the moment. Let's see if I'm right next week :)

Stay healthy

Your Schueco

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