BTCUSD - Short Squeeze and Descending Wedge Reversal Pattern

heyitskolin (43)in #crypto • 8 years ago (edited)

We are now trading within a descending wedge reversal pattern. We have pierced through the March low which is not a great sign, however a break to the upside of the descending wedge should take us to around 7400. We desperately need this to occur within the next 2 candles. Else we fall to the downside of the wedge then the next stop is around 6000 which is the Feb low.

It’s worth noting from a bullish perspective that RSI is well and truly oversold and shorts are going parabolic; so let’s hope all the shorters get rekt!