Yesterday we saw BTC breaking out of the falling wedge everyone was talking about. Now Bitcoin is trading slightly below the upper edge of what I consider to be the next bigger falling wedge, which I indicated in this post a couple of days ago:
If we zoom in on the 1HTF, we can see a bull flag in the making, which - if this plays out the way it should be - will lead to a breakout attempt of the bigger falling wedge. A first target would be the area around $40.4K
Please remember, once BTC moves above $40K, it enters a zone, which historically has shown a lot of sell pressure within the last months.
Let's see how this plays out.
Thanks for your support.
Have a good one.
If we zoom in on the 1HTF, we can see a bull flag in the making, which - if this plays out the way it should be - will lead to a breakout attempt of the bigger falling wedge. A first target would be the area around $40.4K
Please remember, once BTC moves above $40K, it enters a zone, which historically has shown a lot of sell pressure within the last months.
Let's see how this plays out.
Thanks for your support.
Have a good one.