BTC/USD chart analysis: 30 Jan 2018

Is that a big Falling Wedge? Take from ATH of 19,891 and minus previous swing low of 10,700 = 9,000. In a measured move if BTC/USD within short term managed to retest 14,000 to 15,000 zone and stay there, we are looking BTC/USD to 24,000. This is a bullish scenario.

A Falling Wedge trading rule : If a falling wedge chart pattern slants against the prevailing trend, it is considered a bullish continuation pattern if price can penetrate the top resistance line.

Here are some key price levels to guide your BTC/USD trading journey:

R1-12279
R2-13230
R3-14,192

S1-10615
S2-9250
S3-8200

Good luck and happy trading

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