Hi, this is NEXGEN Investment.
BTC -0.34% is experiencing a price adjustment after the Tether issue on Bitfinex exchange. Now BTC -0.34% is forming specific patterns.
The patterns are Falling wedge and bullish pennant.
Completion of both patterns is bullish movement.
Trading volume is an essential factor in both patterns.
The Trading volume must be decreasing as the price decreases.
On top of that, there is HIdden Bullish Divergence . If the price does not drop to $ 6300, HIdden Bullish Divergence will at least lead the price to bounce from the drop.
It is essential to look at the resistance line and see if the breakout happens along with the sufficient trading volume . The trading volume must be huge enough to tell the pattern has completed.
Trading Setup
Green - EP
SkyBlue - TP
Red - SL
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