Bitcoin: an equal substitute of a broadening wedge to a channel
Happy Friday to you all! The market has managed to refresh by the week-end. A broadening wedge we reviewed on Wednesday has exhausted and for more than a day we’ve been experiencing a real struggle for the “pivot” level @46400. The crowd sellers were seen to add more and more to their break-out below 47100 whereas anyway that money failed to be enough for the price to go lower. We are therefore inclined to consider yesterday’s break as a false one and expect the price getting back into the channel formation shortly. Coupled with a new week money we are likely to see the relevant price impetus acceleration.