Over the course of the last 1.5 years, Bitcoin has been forming a falling wedge pattern. This specific pattern will be the main pattern that I'll keep an eye on in the coming months. Falling wedges are classically bullish reversal patterns, so that's what we're going to look at.
Sure, we can go lower to retest the bottom support, but we will break through the top resistance eventually, either by time or by price volatility.
Keep an eye on the yellow marked area. As soon as we can get a weekly close above the top diagonal resistance things will start to look much better. Patience is key.
Sure, we can go lower to retest the bottom support, but we will break through the top resistance eventually, either by time or by price volatility.
Keep an eye on the yellow marked area. As soon as we can get a weekly close above the top diagonal resistance things will start to look much better. Patience is key.
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