Wedge examples ^

^ @haejin
Blogs for my own knowledgebase and educational purposes only

Downtrend

IF a breakout occurs, then the wedge could serve as the wave 2 and no travel towards the 0.786 Fib level would be required.

[IMAGE: https://steemitimages.com/DQmWQRXoZoU28AjW73Sj2hrEcNeD2kQQ721VYTwuWqb5Jzk/B2A03ACE-7B8A-4E61-ACCD-A2CDEB3D09F3.png]

The wedge would still deliver a 0.5 Fib level retracement which is a common retracement zone.

[IMAGE: https://steemitimages.com/DQmWqf7AdL8u3X7AUqoQgYGZc3WW83ZmebWmdnejd32LWt5/0872AA29-4F55-4243-82EE-A66D01CB74C7.png]

https://steemit.com/bitcoin/@haejin/bitcoin-btc-evening-update-path-to-higher-highs

https://steemit.com/bitcoin/@haejin/bitcoin-btc-morning-update-shallow-retrace-can-be-bullish

https://steemit.com/bitcoin/@haejin/bitcoin-btc-mid-day-update-just-beautiful

Uptrend

On the short term, the upward pointing wedge could be signaling a minor correction; perhaps back towards the white trend line.

What really shouldn't happen is that price reenter below the white line because then we've got a different scenario. Nothing to get nervous about; only to be aware!

[IMAGE: https://steemitimages.com/DQmd4dpM8RCA58aAKgPnRDU5d2oBNHFYi3g4923ERV4h92B/41ADD26C-70D2-4CD4-983C-6EAF385F5A29.png]