Bitcoin- Rising Wedge & Resistance - Consumer Confidence Reports

٢٨ مايو ٢٠١٦

There are several financial reports coming out on 5/31 (Consumer Confidence and spending reports) - Bitcoin has been on quite a tear of late. I have no idea how those reports will effect any of the market much less Bitcoin. As far as technical analysis is concerned a rising wedge has formed and it has traded to resistance, so conventional wisdom says 80% of rising wedges breaks bearish... so I will keep an eye out and see what happens (no trade for me)...

Even if Bitcoin doesn't break the wedge there is a chance of retest of the short term resistance broken on Friday!

I would love feedback from bitcoin traders!!!