Bitcoin is showing a classic falling wedge pattern, signaling a potential bullish reversal. Price is respecting support levels and consolidating, indicating a possible breakout to the upside. This setup aligns with previous similar patterns that led to upward momentum. Keeping an eye on resistance levels for profit-taking, while managing risk in case of a breakdown. A textbook long opportunity for technical traders.
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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.