Continued Short-term outlook Bitcoin

Not too long after I published yesterday’s short term outlook on BTC, the price broke on the upside above the wedge. However, the price break was not significant – staying within the bands. Re-looking at the upper edge of the wedge and using a best fit regression of the highest highs for this consolidation period continues to show a wedge with the ocillations generally averaging around $3800. This updated wedge is very similar to the one I outlined yesterday, but shows a slight bearish nature. I still believe that this will break down and retest the $3500 support level.

Again, set tight stop losses and trade within the bands for small short term profits.