This is only a theory and not a financial advice. What if Bitcoin fails to break beyond $120k? What if the the BTC supply remains the same due to large number of sells than buys? The "rising wedge" shows a potential downturn in the near future to ~$80,000 range again. This is only a technical analysis based on historical data and can be changed depending on investors confidence. Diamond hands is all it needs to bring the Bitcoin price to the $200k level.
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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.