Ascending Broadening Wedge
Hi there,
This is my idea on BTCUSDT. It appears it is forming an ascending broadening wedge on larger timeframes, in this case 1-D timeframe. That is what my analysis is based upon anyway. In my opinion I believe that BTC will continue to trade within this range until we hit 21st January; Donald Trump's Inauguration which then I believe a massive rally may occur due to Trumps new pro-crypto approach. I have put Impulse 2 and the arrow where I believe a breakout of this wedge may occur, targeting $125,000-$130,000
As for indicators and technical, all timeframes are looking healthy. 1-D RSI looks like it's getting ready for a move we need it to cross to form a golden cross which would signal a bullish approach. As for Stochastic RSI it seems that it has already crossed.
Could be awfully wrong with this analysis, however, it's an idea. Contributions matter.
Not financial advice.
Thank you for taking the time to look at my idea :)
This is my idea on BTCUSDT. It appears it is forming an ascending broadening wedge on larger timeframes, in this case 1-D timeframe. That is what my analysis is based upon anyway. In my opinion I believe that BTC will continue to trade within this range until we hit 21st January; Donald Trump's Inauguration which then I believe a massive rally may occur due to Trumps new pro-crypto approach. I have put Impulse 2 and the arrow where I believe a breakout of this wedge may occur, targeting $125,000-$130,000
As for indicators and technical, all timeframes are looking healthy. 1-D RSI looks like it's getting ready for a move we need it to cross to form a golden cross which would signal a bullish approach. As for Stochastic RSI it seems that it has already crossed.
Could be awfully wrong with this analysis, however, it's an idea. Contributions matter.
Not financial advice.
Thank you for taking the time to look at my idea :)
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