BTC ascending broadening wedge
BTC update-
We are nearing the end of the ascending broadening wedge. I expect another reversal from 11400-11500 support to 12000 before the wedge is closed. This pattern should close in the next week. When it closes we will see breakout to either the upside or the downside. This is a bearish pattern and there is a CME gap at around 9,500.
Bearish scenario
Btc breaks to the downside filling the CME gap
Target 1- 10500
Target 2-10000
Target 3- 9500
Bullish scenario
Btc breaks to the upside
Target 1- 12500
Target 2- 13000
Target 3- 13500
I need more signals and indicators to settle my bias. This following week will be interesting.
We are nearing the end of the ascending broadening wedge. I expect another reversal from 11400-11500 support to 12000 before the wedge is closed. This pattern should close in the next week. When it closes we will see breakout to either the upside or the downside. This is a bearish pattern and there is a CME gap at around 9,500.
Bearish scenario
Btc breaks to the downside filling the CME gap
Target 1- 10500
Target 2-10000
Target 3- 9500
Bullish scenario
Btc breaks to the upside
Target 1- 12500
Target 2- 13000
Target 3- 13500
I need more signals and indicators to settle my bias. This following week will be interesting.
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