Bitcoin just broke-out of a rising wedge pattern on the 4H chart. This move will most likely send us down to the $21,146 green dashed line. The solid green line is the assets major support line going back to the 2017 high and has had a lot of confluence since then. In my eyes this is the last stand for Bitcoin here, a move below 20k will turn me into quite a bear. On the flip side Bitcoin could just come down to test support and bounce off. Watch were this current candle closes to prepare for follow through price action.
Trade active:
Daily candle close below support . Further downside coming in the next few 4H candles.
Comment:
take profit almost reached
Trade closed: target reached