بتكوينشراء
BTC - $9500 by June 7 ?
With more data points on the graph, I have had to move the rising wedge's lower edge a bit. I'm sure we can see that it makes more sense now.
BTC is still in a rising wedge, but the wedge is so close to being an upward channel that it might just keep going up, without the typical downside that normally follows a rising wedge.
Inside the wedge we see 1 completed bull triangle with 2 "pot holes" (first yellow line). During these pot holes the price fell to the bottom of the wedge and then quickly bounced right back up to the triangle. This is bullish, and BTC has done this 3 times already inside this wedge. Is it going to do that again for a 4th time? Are we right now in the middle of another pot hole?
If we are in another shallow pot hole, we could expect the price to bounce back up to the current triangle (second yellow line) and continue gradually down to the lower edge of the wedge. The last time it did that, BTC jumped up to the upper edge of the wedge in very quick order. If that happens again this time, we could see BTC rise to $9,500 by June 7th (green vertical line).
BTC is still in a rising wedge, but the wedge is so close to being an upward channel that it might just keep going up, without the typical downside that normally follows a rising wedge.
Inside the wedge we see 1 completed bull triangle with 2 "pot holes" (first yellow line). During these pot holes the price fell to the bottom of the wedge and then quickly bounced right back up to the triangle. This is bullish, and BTC has done this 3 times already inside this wedge. Is it going to do that again for a 4th time? Are we right now in the middle of another pot hole?
If we are in another shallow pot hole, we could expect the price to bounce back up to the current triangle (second yellow line) and continue gradually down to the lower edge of the wedge. The last time it did that, BTC jumped up to the upper edge of the wedge in very quick order. If that happens again this time, we could see BTC rise to $9,500 by June 7th (green vertical line).
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