BTC is forming more and more the pattern of a bearish wedge.
With that information, there are two possible case scenarios:
1. BTC will experience a significant dump to the $35K resistance area, but will then go up again in an uptrend (according to the parabolic curve prediction I made which is resulting to be true, see attached idea).
2. Less probably, if the buying pressure is still higher and prices will go up and down near the resistance, there could be a possibility of an uptrend.
Areas to watch are resistance(remember resistance and support are always areas and not lines) and support drawn by the wedge.
With that information, there are two possible case scenarios:
1. BTC will experience a significant dump to the $35K resistance area, but will then go up again in an uptrend (according to the parabolic curve prediction I made which is resulting to be true, see attached idea).
2. Less probably, if the buying pressure is still higher and prices will go up and down near the resistance, there could be a possibility of an uptrend.
Areas to watch are resistance(remember resistance and support are always areas and not lines) and support drawn by the wedge.
