Well well well,
Falling wedges are a powerful setup, those that have swept the liquidity below their lows are even more powerful.
We can see the breakout from the tiny one has lead prices up to 0.382/0.5 area already.
Lets picture that zone on the big wedge: 37k - 43k easy peasy
But no break out, no rally. Simple as that.
We shall wait for PA to cotinue and see where BTC is going.
Theres quiet some folks waiting for lower, 15k, 17k, 12k. Its those folks looking at the structure as a 5-wave formation. Those people will set their invalidation level around the levels of allegedly wave 1 (32k). The closer the price will get towards this area and even when it would have surpassed that level, they will find excuses that overlaps are ok. Its those people that will get rekt and fomo back in. Dont be that type of trader waiting for prices to come closer and closer to your invalidation level, when the real story has been told much deeper around this current price levels
Other folks may see the correction done already since the low in june as a perfect 3-3-5 ABC type.
IF BTC manages to break out from the big wedge and r/s that downtrend from 2021: be sure there will be no 5th wave, no lower and only higher.
IF BTC drops below 17.6k: be sure there will be a hell of a 5th wave down.
Hold my beer pls
----
No financial advice, do your own research, don't be stupid
Falling wedges are a powerful setup, those that have swept the liquidity below their lows are even more powerful.
We can see the breakout from the tiny one has lead prices up to 0.382/0.5 area already.
Lets picture that zone on the big wedge: 37k - 43k easy peasy
But no break out, no rally. Simple as that.
We shall wait for PA to cotinue and see where BTC is going.
Theres quiet some folks waiting for lower, 15k, 17k, 12k. Its those folks looking at the structure as a 5-wave formation. Those people will set their invalidation level around the levels of allegedly wave 1 (32k). The closer the price will get towards this area and even when it would have surpassed that level, they will find excuses that overlaps are ok. Its those people that will get rekt and fomo back in. Dont be that type of trader waiting for prices to come closer and closer to your invalidation level, when the real story has been told much deeper around this current price levels
Other folks may see the correction done already since the low in june as a perfect 3-3-5 ABC type.
IF BTC manages to break out from the big wedge and r/s that downtrend from 2021: be sure there will be no 5th wave, no lower and only higher.
IF BTC drops below 17.6k: be sure there will be a hell of a 5th wave down.
Hold my beer pls
----
No financial advice, do your own research, don't be stupid
