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BTC update 2 for BITSTAMP:BTCUSD by CFcryptoTA

This is the time of bargains. The BTC dip yesterday touched 40160. My original target for the dip was 39k , as you can double-check from yesterday chart. Now what the chart and candles are telling us? BTC is not ready yet for the move up this week but is now charging up. The hammer on a good volume is the first sign of a short term reversal. The candle has an extremely long wick which tells us that there were many eager buyers at the 40k level, as expected.
I do not check the news as I see what I need in the chart. BTC market was weak for a few weeks now, although the panic from the 300 billion debt of evergrande was the catalyst, this one was already in the chart.
BTC is giving us now the time to prepare ourselves. I can now see some accumulation between the 44500 and 40 k level for the next week.
BTC is now going to trade in a descending wedge , which, when broken, will give us the start of the new leg up.
Most of the trendlines were discussed in my previous video a few days ago. If you are interested in the overall picture, go and check that out.
I was hoping to load my guns on the touch of the 39k level, but the 40 will do as well.
If the support at 39-40 will not hold, then things will get ugly.
For now, the picture looks good, and I am still waiting for the weekly Stoch RSI to steam out to pull the trigger completely.
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