BTC Descending Broadening Wedge BULLISH
BTC is making a descending broadening wedge, We might see some retracement within the wedge if 39.5k level is not reclaimed. Technical target of the wedge is 51.2k. We do have a :bat: pattern in play on a daily chart and TP3 of that pattern is 
42K plus on 12H chart MACD has turned bullish so its suffice to say that all of these indicators are in confluence with current analysis.
42K plus on 12H chart MACD has turned bullish so its suffice to say that all of these indicators are in confluence with current analysis.Trade closed: target reached
BTC broke out from the wedge and price closed at 43k from 37.6k. We haven't seen such a daily candle since Feb '21, I have marked the level which needs to be reclaimed is 45.8k. If this level is reclaimed then we have a very high chance of achieving technical target of the wedge. All oscillators on higher time frame are giving bullish signals.
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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.