BTC/USD - Break After Break! 2/4/18

MAN

If you have been using the support lines ive been listing for day trade plays lately u may have made some serious dosh!!

Yesterday we saw our newer formed support break with a push downwards to our main trend line which was respected.

A nice lil push back inside even though it was slightly broken, remember a break of this trend line leads us to testing our lower supports nearly instantly.

Now with our recent breakout we can see a nice little Descending Wedge, although these usually break bullish keep in mind that the lower support is pretty much trend line support.
So a break will test our lower lows.

However, a break up may see us test $7,320 region again! so lets see how we go.

Could see one more wave down occurring within the wedge prior to any upwards movement, but thats where panic begins and a break down could definitely occur. SO watch the lines closely!

CHART:

Supports & Resistances

Supports

Bottom Major Trendline
$6,000 - $5,928
$4,800
$3,000

Resistances

$7,320 - $7,200
$7,600 - $7,700
Upper Trendline

YEOWW!

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Legal Disclaimer: I have no idea what I'm doing and I'm not telling you to follow me or make investments based on this information, this is just my thoughts and ideas and what ill be following. Happy Trading!!