$BTC right now‼️
I’m continuing to trade a technical pattern: a descending wedge. A long position opened near the median line of this formation is already yielding a profit of at least 8%.
In expanding structures, the median line often acts as a strong dynamic level of support or resistance.
There is local resistance in the $82,400.00–$82,600.00 range (where the 200-period moving average, or MA 200, is also currently positioned, acting as resistance). The stop-loss is dynamic.
If the bulls fail to break through the resistance line at $81,800, I will consider opening a short position.
A key characteristic of an expanding wedge is that each subsequent move is wider than the last. This often leads to stop-losses being triggered on both sides. Be prepared for false breakouts (whipsaws) around the median line.
Wishing everyone profitable trades💰💪
I’m continuing to trade a technical pattern: a descending wedge. A long position opened near the median line of this formation is already yielding a profit of at least 8%.
In expanding structures, the median line often acts as a strong dynamic level of support or resistance.
There is local resistance in the $82,400.00–$82,600.00 range (where the 200-period moving average, or MA 200, is also currently positioned, acting as resistance). The stop-loss is dynamic.
If the bulls fail to break through the resistance line at $81,800, I will consider opening a short position.
A key characteristic of an expanding wedge is that each subsequent move is wider than the last. This often leads to stop-losses being triggered on both sides. Be prepared for false breakouts (whipsaws) around the median line.
Wishing everyone profitable trades💰💪