BTCUSDT RISING WEDGE + BROAD.. TRIANGLE
Updated
BTCUSDT has been following a rising wedge pattern with a broadening descending trinagle to hold the price consolidation in btc. At the vertex of the rising wedge, btc has formed has formed a bearish head and shoulder pattern in which the neckline has been broken making it vulnerable for downfall. The current price is at the support of the wedge, a little impulse is expected for a retest at 46.5k then a downtrend to the horizontal key support line of the triangle (43.6k) if btc fails to break the resistance zone at 46.5k. In the event, we see a downfall to the triangle's support line, a bounce is very possible to the 50k target. This is the time to stay observant as we at the crucial state of bitcoin.
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Btc is still maintaining position of the rising wedge. We saw price bounced from 45.6k to the previous high at 48k. Is btc going to breakout from the rising wedge or is it the beginning of another bear season?
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