John_rsm

BTCUSD Rising Wedge 1H

BYBIT:BTCUSD   Bitcoin / U.S. Dollar
BTC is forming a potential rising wedge (Yellow lines) and if it plays out then the target would be $41500 approx.
Currently its facing resistance (Purple line of deseeding triangle).
Comment: Price could not break through Purple line and it come down to test the support at the yellow rising line.
Comment: Currently 20 EMA giving support
Comment: Bears showing strength
Comment: Price went through resistance (Purple line of triangle)
Trade closed manually: Price getting support at 20 EMA therefore rising wedge channel get invalides.