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BTC created falling wedge , where is the next potential targets? for BITSTAMP:BTCUSD by kiu_crypto

Hello traders , in this idea i wanna to talk about the BTC price ;
in the past few days we saw very big moves in the BTC price , and as i said in my previous update about BTC , price finally started to retracement after reaching 0.618 fib level ; but what’s is the next potential targets of the BTC :

in the daily chart you can clearly see , BTC find support from 0.5 fib level level , and it’s seems now that BTC price created falling wedge ; and also we have clear descending channel in the RSI .
but what we can find from this information ? and how we can use them for the next trade :

I must to say as long as BTC price is below the blue downward trend line , I personally remaining bearish about BTC price.

but i think this is possible even to comes down and touch 0.618 fib level ; but BTC price must hold above the trend line and don’t close below it ; even this is possible to see a bearish fake out and after that we can see V shape recovery to the upside , so be careful .

but let’s look at 4H time frame for more details :

in the 4H time frame we can see BTC price create something like a triangle , you can trade based on this pattern , but these days BTC price is very volatile because of china FUD . however we can open long position after breaking the yellow line and retest it as support , but already price is below the 21ema and also below the yellow line , and BTC price is still in the triangle ; i must say that the overall trend is still bearish so its more likely to see breaking to the downside rather than upside , but don’t forgot to take profit at 0.618 fib level .

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