BTC PRICE MOVEMENT - WEDGE PATTERNS
Once the wedge pattern completes, the Rising wedge that follows provides evidence for an increasing rate of buyers surpassing the increase in rate of sellers.
We have two potential reversal zones. If the price breaks the first wedge, then the price will break support. If it uses the wedge as a support, then we have a firm buy signal as it breaks resistance.
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Once the wedge pattern completes, the Rising wedge that follows provides evidence for an increasing rate of buyers surpassing the increase in rate of sellers.
We have two potential reversal zones. If the price breaks the first wedge, then the price will break support. If it uses the wedge as a support, then we have a firm buy signal as it breaks resistance.
Please leave your comments below
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.