BTC/USD: The correction of 2018. Does the ETF wakes the bull?
Just some thoughts looking at the timeframe and the ascending wedge.
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BTC is nicely following the pattern. I think shorting BTC from the $6700 range could give nice profits. Please keep in mind that it might be forming a H&S pattern, indicating a bearish movement towards the $5200 range with strong support around $5800.
If it bounces from the $5800 support it could go up and retest the resistance around $7300 again. If the ETF get's approved i think it will smash the 7k+ resistance and take us to 8,5k or 10k.
If it bounces from the $5800 support it could go up and retest the resistance around $7300 again. If the ETF get's approved i think it will smash the 7k+ resistance and take us to 8,5k or 10k.