Bitcoin Ascending Wedge to 100K
The current price action would be modelled well into an ascending wedge. If you think 60K is too good to be true, it probably is. I'm looking for something more neutral which allows volume to be filled at 28K
Nota
Another neutral scenario I have included is the overshadowing (green) descending triangle. Together, I think the ascending wedge (mapped by linear regression) will enable us to have a chance of breaking the descending triangle, which is another situation that pushes us to the 70K range. This means the bulls need to break out a descending wedge (which does happen) and when it happens we can use the triangle and ascending wedge together to speculate a breakout price. These two very modest scenarios, ascending triangle, and descending wedge, should provide a number of opportunities until price breaks cleanly up. Failing that, the price will break down. Look for a breakout, but bet on shorts.Nota
This looks like its playing out, I've provided an update in my next Idea
Penafian
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