HOME> market conditions> [BTC market analysis] The return phase of adjustment to the Sanson neckline! Will it fall further from here? Explaining rising and falling wedges [2020/9 / 14-9 / 20]
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[BTC market analysis] The return phase of adjustment to the Sanson neckline! Will it fall further from here? Explaining rising and falling wedges [2020/9 / 14-9 / 20]

Today's BTC price forecast is released! Coingirls official traders open their strategies to keep up with the upcoming virtual currency trends!

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Last week's Bitcoin quote review

We will analyze and review the market price of BTC/USD from June 9st to June 14th.

Last week's highlights

Looking back over the past week, the points I would like to pay attention to areIt was the adjustment return phase after the downtrend changed.That's the point.

The above image is an hourly chart of BTC USD.

I drew the price movement from 9/14 to 9/20 with an arrow, but it was a week that continued to rise steadily.

And as of 9/21 today, it has returned to the neckline level around 11120.

We can think of a scenario in which the price will continue to decline from here, so I would like to pay particular attention to this week's movements.

Rising flag / falling flag

Today"Rising wedge / descending wedge"I would like to introduce.

By the way, last week's article"Rising flag / falling flag"I will explain it under the theme, so please refer to it as well.

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What is a wedge?

First of all, what is a wedge? I will talk about wedges, but what are wedges?"Wedge"Means

WedgesChart pattern with a pointed tip as it progresses.

And there are two main wedge appearance patterns.

① Trend continuation pattern

This trend continuation pattern exits in the same direction as it entered.

Wedges act as a coordinator to keep the big trend going.

② Trend change pattern

In the trend change pattern, the exit is in the opposite direction of the entry.

The top two are "rising wedges", but if you add the descending wedge pattern to this, you can classify them into four patterns.

It can be complicated and confusing until you get used to it, but basically there are only these four patterns.

By remembering it well, you will improve your understanding of the market.

And the most important thing to enter with a wedge is"Enter in the opposite direction of the wedge"about it.

In other words,Aim to sell when a rising wedge appears, aim to buy when a descending wedge appearsThat is to say.

The image above is the four patterns above.

I added the trading points, so please remember these 4 patterns and use them in practice.

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Outlook this week

I will explain the market outlook for this week.

First, please see the 4-hour bar below.

As I've written all the time last week, I'm back at the return position of $ 11120 after the Sanson break.

In the article on 9/18 (Friday) last week, I wrote that "I would like to sell it back when it goes up to $ 11120", but since it went up to that position, it is an additional sale.

However, since you can see the uptrend on the daily bar of the top bar, we will withdraw from the loss cut when it rises to $ 11400.

Short positions that sell from $ 12000 will also be profitable if they rise to $ 11400.

The above image is one hour.

At the hourly level, we are building head and shoulders.

If it breaks below around $ 10824, it is likely to fall further.

Anyway, I'm going to continue to sell this week.

This is the end of this week's market price analysis and review.


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[Women's association member who wrote this article]

Coingirls Certified Trader
Coingirls official female trader with 6 years of trader experience. I like watching the three major currency charts of BTC, XRP and ETH.
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