Bitcoin Falling WEDGE!CME:BTC1!
CRYPTOCAP:BTC is still in the falling wedge we have been following for a while now.
For Long Ideas: We are waiting for reaction in highlighted Zone 24k to 25.6k for possible target to 30k to 31k zone.
For Short Ideas: Waiting on bearish retest of the same Zone and possible targets are 21k, 20k zones.
Today FOMC Interest Rate Decision data comes out at 14:30 EST. Previous 5.25 Forecast 5.25.
On larger time frames these events have smaller impact. Scalping ideas can plan for the volatility on lower time frames.
200D MA must hold to prevent further downside.
On the 12h the wedge looks like a bearish retest of the Head & Shoulders which can be viewed here: tinyurl.com
Always having Plan A and Plan B scenarios so we can react once the markets provide an opportunity to execute our edge.
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