Bitcoin is currently showing signs of a potential breakout from a strong falling wedge pattern on the 4H chart, which is a classic bullish reversal signal.
🔍 Technical Highlights:
The falling wedge has been forming since late January, creating a series of lower highs and lower lows.
Price action is now consolidating near the wedge resistance, indicating an impending breakout.
A previous bullish leg saw a price rally of 25,428.16 (+30.29%), suggesting strong historical momentum.
If BTC breaks out cleanly, we could see a similar or stronger move—projecting a potential rally of 28,086.24 (+31.12%).
📈 Expected Target: ~$118,141, aligning with the measured move from the wedge breakout.
🧠 Trading Insight: Watch for a confirmed breakout with strong volume above the wedge resistance zone. Retests of the breakout area can offer ideal entries for continuation trades.
🔍 Technical Highlights:
The falling wedge has been forming since late January, creating a series of lower highs and lower lows.
Price action is now consolidating near the wedge resistance, indicating an impending breakout.
A previous bullish leg saw a price rally of 25,428.16 (+30.29%), suggesting strong historical momentum.
If BTC breaks out cleanly, we could see a similar or stronger move—projecting a potential rally of 28,086.24 (+31.12%).
📈 Expected Target: ~$118,141, aligning with the measured move from the wedge breakout.
🧠 Trading Insight: Watch for a confirmed breakout with strong volume above the wedge resistance zone. Retests of the breakout area can offer ideal entries for continuation trades.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.