BITO to 25.92 then long back up

Apr 7, 2022

As we can see here I have a large rising wedge of the overall trend. It’s not gonna be an easy ride down, and it could take some time, but ultimately it looks like it’s heading to the lower support of the wedge. My expectations would be that the 2592 support to roughly 26 if we want to round up a little bit, could come in as strong support. If we can hold it and we don’t lose it and start closing below and showing rejection/continuation flagging underneath that support, this could be a great area to buy in swing it back up to the top of the trend. 25. 92 is the level that I’ll be watching to see if we can hold and get a solid bounce off of it.