If the ascending wedge pattern holds true, there would be a move to ~42k (a continuation of current move lower at this point) and, whether it breaks immediately or first bounces once more, it could end up at ~36k, which would also be a re-test of the 200 day MA, which may be necessary.
Where it goes from there could be anyones guess. Just one potential outcome of many.
It could also bounce off the longer-term trend line as well.
If the trend line angle is drawn a bit differently, this could just be an upward channel we are in, as opposed to an ascending wedge, which would negate much of this (aside from the potential need to re-test the 200 day MA).
Or Bitcoin just ignores all technical impediments and goes on to 50k and then parties all the way to 200k. This is a big guessing game for most of us, dictated by the whales.
Where it goes from there could be anyones guess. Just one potential outcome of many.
It could also bounce off the longer-term trend line as well.
If the trend line angle is drawn a bit differently, this could just be an upward channel we are in, as opposed to an ascending wedge, which would negate much of this (aside from the potential need to re-test the 200 day MA).
Or Bitcoin just ignores all technical impediments and goes on to 50k and then parties all the way to 200k. This is a big guessing game for most of us, dictated by the whales.