Nice actionable post! This looks like a pretty decent entry if one was looking to long BTC. BTC is looking like a descending wedge pattern. As all traders know, it's very difficult to time the market. While BTC looks like it could break out of this wedge pattern at any time now, it could consolidate longer and fall to $9000 shaking out some more weak longs. I'm still of the belief that we consolidate some more leading up to Chinese New Year (2/16).
Thanks for the update and I hope you keep calling out good opportunities to buy and sell!
I'm not so sure that the wedge hasn't morphed into a symmetrical triangle breakdown with a target somewhere around 7,500.
The falling wedge still looks in tact to me, but very close to invalidating the pattern. Prices are gunnin' lower as we speak, but I'd expect a rally day tomorrow. Let's see what happens...
Yep. It's a bigger wedge now, and better defined. Well worth the watching.
Nice, yeah looks like we'll just wedge lower. Though I do hope the low is in. It's very crazy to me that the apex of the wedge pattern falls right around Chinese new year. Coincidence?
Oh lawdy, wish I read this before laddering some STEEM in just then hahah. Revising my bottom from 8.5k to 7.5K for BTC. If this bounces though...okay let's not jinx it. Good luck everyone!