After falling down to bottom of daily bull channel(blue channel), BTCUSDT chart has formed a wedge bottom.
Wedge bottom have 75% chance of bull breakout. Price fall down to bottom of this wedge yesterday and had overshooted.
In such cases we expect this breakout and overshoot be failed after maximum 5 bars.
So we can wait 5 days from now to see that price reversed up or not. Target for bulls will be top of wedge and then we can expect breakout.
Remember that we have 25% chance of bear breakout of this wedge, so if bears get good follow through bars, BTC will see lower prices.
First target will be the beginning of bull channel around $32,900.
Wedge bottom have 75% chance of bull breakout. Price fall down to bottom of this wedge yesterday and had overshooted.
In such cases we expect this breakout and overshoot be failed after maximum 5 bars.
So we can wait 5 days from now to see that price reversed up or not. Target for bulls will be top of wedge and then we can expect breakout.
Remember that we have 25% chance of bear breakout of this wedge, so if bears get good follow through bars, BTC will see lower prices.
First target will be the beginning of bull channel around $32,900.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.