This week is an important week for BTC/USD. If we can stay on the upside of 42,000 then we can continue higher but if we go below the low and retest 40k support then things could get bearish quickly. I think we will break out of this wedge considering that February is usually a bullish month for BTC, ETH, and crypto. (See previous years) Also, a temporary short squeeze could cause Bitcoin to surge to the upside and test the 47k resistance.
Note
Needs to stay above this wedge by Friday close.Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.