Traders,

After breaking to the upside of our long-standing, year-old bullish descending wedge, BTC is retreating exactly as I hoped it would do.

Wait! Did you read that right? Was I really hoping for BTC to retreat after breaking to the topside of its wedge?

Well, yes. Actually, I was. Cuz’ that retreat represents patently perfect technical price action. See, after a breakout of previous major resistance, which now becomes support, price loves to go back down to retest that resistance/support level/zone. And personally, I’d rather this retest happen sooner than later!

I may be on the hunt to snag some BTC here real soon!

Best of luck traders!
Stew