Thoughts on this BTC TA?


#1

Got an interesting wedge forming. and look at that some volume as im typing this


#2

to be honest, i think the volume in the past week or so is too low to get a big breakout

could be a big crash soon


#3

The opposite is more likely. Short squeeze is already underway.


#4

I think the current move above the 6,700 level is bullish on a technical level because it is a break above short-term resistance of the recent highs. This level should now serve as support on a minor pullback.

As for a target, there is resistance of the 200-day moving average around the 7,800 level. So, that’s about a 16% target. I’ve got a stop below the recent lows, just shy of the 6,000 mark.

This chart (courtesy of CryptoPicks) shows the setup I am trading:

Just my 2 cents.


#5

Yea. I made a small purchase at 6800 and put sell points in at somewhere around 7600, or 7700; don’t have my exchange open right now. But it was a 16% return roughly. Not only coincides with the EMA, but also previous support/resistance levels.


#6

This could seem likely


#7

correlates to 7600-7800 well