BTCUSD rising wedge pattern
BTCUSD forming a rising wedge pattern. This is a bearish pattern that indicates that the rally is starting to lose steam. The pattern is pretty in-line with how I see market sentiment right now. Everyone is hoping and waiting for a correction to the previous ATH of ~$20,000. As long as that is the case, I can see the pain trade being a slow and steady grind higher forcing people who feel they are missing out to jump in. Once the last person jumps in, the wedge pattern will complete and break to the downside.
Logic has it that 20k is still strong support and we may see it trade there eventually, but likely we approach
25K first.
Logic has it that 20k is still strong support and we may see it trade there eventually, but likely we approach
25K first.
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