Rising Wedge, Bitcoin to $7k in late September

15 авг. 2020 г.

Not sure if many of you noticed that Bitcoin is actually in a rising wedge, which is a bearish pattern. If it stays in the narrow range until late September it could drop to 7k (based on the wedge height) which is strong support, and that provides additional confluence. If you apply Fibo extension from the current price to 7k, you'll notice that 161% extension is near the ATH, so if BTC hit 7k, we should buy it there and hold until $18-20k.