#BTC Rising Wedge

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📊#BTC Rising Wedge📉

🧠From a structural perspective, we have reached the target area of ​​the bullish cup-with-handle structure, so we need to be vigilant about the occurrence of a pullback.

➡️From a graphical perspective, we have formed a rising wedge near the red resistance area, which is generally regarded as a bearish model.

➡️If the rising trend support line does not hold and falls directly, then we can also expect further declines to occur

⚠️Note that counter-trend trading in an uptrend must be risk-managed.

Let's see👀

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BTCUSDT.P
Trade closed: target reached
snapshot

Reach TP2.
80% of the position profit has been locked in.
A small portion of the position will be retained in the hope of more.
Note
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#BTC Update

After setting a new all-time high, a large negative column appeared at the daily level, which means that a large number of holders chose to sell BTC to take profits. Therefore, we need to be alert to the risk of further decline! Based on this possibility, I still hold a small short position.

Yesterday, the long orders held near the overlapping support area of ​​108,000 were reduced by 80% when they reached the blue resistance line. After moving up the SL, they were touched and the orders were automatically closed. It was also a good profit band.

There is strong resistance near 110,000. Only if it breaks through here and stabilizes, can we see further rise.

There is a support effect near 105,000. Only by holding here can we have a chance to rise further.

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