BTC - Massive rising wedge!

١٨ أبريل ٢٠٢٣

Here's a quick look at BTC 8 hr. chart
Upon closer examination of the current market price, it appears that a larger rising wedge pattern is being formed. While the price has recently bounced back from the lower boundary of this pattern, it is important to note that a break below this level could potentially trigger a decrease to 25k.

Moreover, it is worth emphasizing that the resistance level between 31k and 32k holds significant importance in the current market context. If this barrier is successfully breached, it is highly likely that the price will continue to rise and reach the 35k threshold. On the other hand, if the price breaks out to the downside from the rising wedge pattern, a drop to 25k would seem to be a more probable outcome. Therefore, it is crucial to closely monitor the movements of this wedge pattern to make informed investment decisions.
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BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!