BitcoinShort
An ascending wedge pattern is near to break downside!
Updated
In continuation of the previous post, a nice ascending wedge pattern is near to break downside! what does it mean ?
1- Ascending wedge pattern most of the time informs us about a reversal in the market, mostly in combination with other signals
2- The amounts of this decline is measured by its altitude, in our case, it is 40.5K
3- Remember it needs a proof for breaking its lines (in the case of decline= lower line), so don't hurry but wait for it then get a short position or wait for your desired price to get in (get a long position)
And don't forget; if it is not able to break the lower line, it will go up slightly to reach upper line and test it again and again to finally break one side and move as fast as possible.
1- Ascending wedge pattern most of the time informs us about a reversal in the market, mostly in combination with other signals
2- The amounts of this decline is measured by its altitude, in our case, it is 40.5K
3- Remember it needs a proof for breaking its lines (in the case of decline= lower line), so don't hurry but wait for it then get a short position or wait for your desired price to get in (get a long position)
And don't forget; if it is not able to break the lower line, it will go up slightly to reach upper line and test it again and again to finally break one side and move as fast as possible.
Note
Finally the ascending wedge break downside!Note
As Bitcoin is a real classic asset, it will give us most of the time a pullback. It means price will go up to retest the line just was broken and then the real decline will start.Trade closed: target reached
A lowered target reached! and price start to uptrend again
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