Hello all. Looking at BTCUSD on the 4hr timeframe, we see a formation of an ascending wedge which is a bearish pattern.
This pattern signals a breakout to the downside with a measured target of $19,000.
Levels of resistances to keep an eye on are the descending line of support, and the psychological price level of $20,000. Both levels are marked with dotted lines.
We are looking for a possible 10% drop if the target of $19,000 is hit.
Happy Sunday...
Thanks for reading, and stay tuned. Enjoy.
This pattern signals a breakout to the downside with a measured target of $19,000.
Levels of resistances to keep an eye on are the descending line of support, and the psychological price level of $20,000. Both levels are marked with dotted lines.
We are looking for a possible 10% drop if the target of $19,000 is hit.
Happy Sunday...
Thanks for reading, and stay tuned. Enjoy.