BTC/USDT – 30-Min Chart Technical BreakdownBTC/USDT – 30-Min Chart Technical Breakdown
🔺 Pattern Formation:
Price action is currently developing a rising wedge, generally considered a bearish continuation pattern. However, the ongoing Higher High (HH) and Higher Low (HL) structure suggests short-term bullish momentum is still intact.
Key Resistance Levels:
* $84,700 – Major horizontal resistance
* $83,600 – Local supply zone / recent rejection point
Key Support Levels:
* $81,200 – Trendline + structure support (wedge base)
* $78,400 – Secondary structural support
* $74,900 – High-confluence demand zone
Long Setup (High-Risk Trade – Counter to Pattern Bias):
* Entry Zone: $82,500 – $83,000 (wedge support retest zone)
* TP1: $83,900
* TP2: $85,200
* TP3: $87,000 (upper wedge boundary)
* SL: Below $81,100 (wedge break + structural invalidation)
Confirmation Needed:
Watch for bullish engulfing or a strong bounce from the wedge support (red dashed trendline) with solid volume influx.
Risk Note:
Despite current bullish flow, wedge patterns often resolve bearishly. If price breaches below $81,100, invalidate longs and reassess for possible shorting opportunity.
