Hey TradingView community,
I’ve been closely monitoring Bitcoin’s price action amid this volatile November, and the 2H chart is painting an intriguing picture. After a sharp correction from October’s all-time highs above $126,000, BTC has been grinding lower, but it’s now forming a classic falling wedge pattern – a setup that’s often a precursor to bullish reversals in downtrends.    Check out my screenshot below for the details.
Key Observations from the Chart:
• The Pattern: We’ve got a descending resistance line connecting the lower highs since mid-November, paired with an ascending support line from the recent lows around $88,000-$90,000. This compression is typical of a falling wedge, where selling pressure diminishes, setting the stage for an upside breakout. If it holds, we could see a snap higher, similar to how these patterns resolved in past cycles.  
• Support and Resistance Levels:
• Strong support cluster at $92,000-$92,500 (current price action bouncing here) and lower at $89,000-$90,000, which has acted as a demand zone multiple times this month. 
• Overhead resistance at $96,000-$97,000 (prior highs), with a breakout potentially targeting $100,000-$104,000 based on the wedge’s measured move. On the flip side, a breakdown below $89,000 could open the door to $80,000 or even lower, as some analysts warn of deeper corrections.   
• Momentum Indicators: Volume appears to be drying up in the wedge, which is bullish, and RSI is hovering near oversold levels (around 30-40 on higher TFs), hinting at a potential rebound. No major divergences yet, but watch for one on the next leg down.
Market Context:
November 2025 has been a bloodbath for Bitcoin, with a 33% drop from peaks amid overleveraged longs getting flushed and broader macro pressures.  However, on-chain data shows accumulation by whales, and BlackRock’s ETF flows are turning positive again, suggesting the selling might be exhausting.  Sentiment is numb – perfect for a contrarian setup. Interestingly, ETH/BTC is also breaking out of its own multi-month wedge, which could signal altcoin strength if BTC stabilizes.  
Trading Idea:
• Bullish Scenario: Long on a confirmed breakout above the upper trendline (~$94,000) with stops below $92,000. Targets: $97,000 (short-term), $105,000+ (extended). 
• Bearish Scenario: If support cracks, short toward $85,000-$88,000, but I’d wait for confirmation to avoid whipsaws.
• Risk Management: Always use 1-2% risk per trade. Volatility is high, so position size accordingly. This isn’t financial advice – DYOR!
What do you think, bulls or bears in control? Drop your thoughts below. Let’s discuss!
#BTC #Bitcoin #Crypto #TechnicalAnalysis #FallingWedge #Trading
I’ve been closely monitoring Bitcoin’s price action amid this volatile November, and the 2H chart is painting an intriguing picture. After a sharp correction from October’s all-time highs above $126,000, BTC has been grinding lower, but it’s now forming a classic falling wedge pattern – a setup that’s often a precursor to bullish reversals in downtrends.    Check out my screenshot below for the details.
Key Observations from the Chart:
• The Pattern: We’ve got a descending resistance line connecting the lower highs since mid-November, paired with an ascending support line from the recent lows around $88,000-$90,000. This compression is typical of a falling wedge, where selling pressure diminishes, setting the stage for an upside breakout. If it holds, we could see a snap higher, similar to how these patterns resolved in past cycles.  
• Support and Resistance Levels:
• Strong support cluster at $92,000-$92,500 (current price action bouncing here) and lower at $89,000-$90,000, which has acted as a demand zone multiple times this month. 
• Overhead resistance at $96,000-$97,000 (prior highs), with a breakout potentially targeting $100,000-$104,000 based on the wedge’s measured move. On the flip side, a breakdown below $89,000 could open the door to $80,000 or even lower, as some analysts warn of deeper corrections.   
• Momentum Indicators: Volume appears to be drying up in the wedge, which is bullish, and RSI is hovering near oversold levels (around 30-40 on higher TFs), hinting at a potential rebound. No major divergences yet, but watch for one on the next leg down.
Market Context:
November 2025 has been a bloodbath for Bitcoin, with a 33% drop from peaks amid overleveraged longs getting flushed and broader macro pressures.  However, on-chain data shows accumulation by whales, and BlackRock’s ETF flows are turning positive again, suggesting the selling might be exhausting.  Sentiment is numb – perfect for a contrarian setup. Interestingly, ETH/BTC is also breaking out of its own multi-month wedge, which could signal altcoin strength if BTC stabilizes.  
Trading Idea:
• Bullish Scenario: Long on a confirmed breakout above the upper trendline (~$94,000) with stops below $92,000. Targets: $97,000 (short-term), $105,000+ (extended). 
• Bearish Scenario: If support cracks, short toward $85,000-$88,000, but I’d wait for confirmation to avoid whipsaws.
• Risk Management: Always use 1-2% risk per trade. Volatility is high, so position size accordingly. This isn’t financial advice – DYOR!
What do you think, bulls or bears in control? Drop your thoughts below. Let’s discuss!
#BTC #Bitcoin #Crypto #TechnicalAnalysis #FallingWedge #Trading
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。