The bitcoin exchange is and will remain an unpredictable as the roller costar ride as it is the case with most of the asset that is traded on the stock market. It is nearly impossible to predict the up and the down of the market but it is possible to give a possible analysis about the price movements the markets will take in the near future. Finally, the technical analysis is also not much more than a game with probabilities. It is not a supernatural ability, which leaves the chart analyst in the future, but merely a tool for this purpose, the probabilities against each other to estimate. The falling wedge is one of the figures that represent bullish sentiments in the charts which look like two downward converging trend lines.
Image Source: currencymarket24.com
The falling wedge in discussions is not part of patterns as it often attracts only small price movements and not to act by selling or buying the asset is the best idea for traders to remain profitable. Though there is a lot of variation for this trend which forms an exception and those are able to observe now with the Bitcoin Price movements. According to Bulkowski the only variation of the falling Wedge which works in the stock market well are those that break down in the bear market. The falling wedge is a very poor performer as far as bullish chart pattern goes. The break even failure rate is high and the average rise is low. The only variation that works well is a downward breakout in a bear market which in plain terms is the negative sentiments in investment environment.
Image Source: cryptodailycdn.ams3.cdn.digitaloceanspaces.com
The entire asset has a downside, because of anyone looking for a downside, because anyone who is looking for repeating pattern for bearish variations that is definitely a find.
Source: Cryptocurrency Market
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