BTC is in a falling wedge and may break out. Most probable it will form a swing pattern failure with w double bottom formation which will later pump, like the fractal shows.
However there is the chance of price remaining in the falling wedge and even breaking down to 10.5k
in the last idea btc failed to break above 11.9k, which remains a very strong resistance especially since an order block with trapped buyers was formed in the last dump. Recent price action has created pockets of liquidity that are not conducive for a pump and might reject price if momentum is not strong. It is why there is very bearish views at the moment and the proposal that price might retest the previous high of 10.5k is valid and strong.
It might be the case that Alts pump while BTC consolidates in the rising channel, and Alts will give BTC momentum to overcome resistances.
However there is the chance of price remaining in the falling wedge and even breaking down to 10.5k
in the last idea btc failed to break above 11.9k, which remains a very strong resistance especially since an order block with trapped buyers was formed in the last dump. Recent price action has created pockets of liquidity that are not conducive for a pump and might reject price if momentum is not strong. It is why there is very bearish views at the moment and the proposal that price might retest the previous high of 10.5k is valid and strong.
It might be the case that Alts pump while BTC consolidates in the rising channel, and Alts will give BTC momentum to overcome resistances.
Comment:
bullish target hit
Comment:
retesting falling wedge, bounce above 11.55k flips the trend bullish.
