Market Structure
BTC continues trading within a rising wedge pattern (white trendlines).
Long-term yellow trendline acted as resistance (2018–2021), now flipped to support.
Recent price action respects both the yellow and blue trendlines.
Key resistance zone around $120K (red horizontal line).
Mid-term projection targets upper wedge area near $180K.
Bullish Scenario
Continuation of higher lows and higher highs suggests trend remains intact.
Break above $121K could trigger a rally toward $150K–$180K (wedge resistance).
Clean support holds above $103K and wedge lower boundary.
Bearish Scenario
Rejection from $121K and failure to hold blue trendline could lead to retest of $84K–$72K zone.
Breakdown below $72K would invalidate the wedge and flip structure bearish.
BTC continues trading within a rising wedge pattern (white trendlines).
Long-term yellow trendline acted as resistance (2018–2021), now flipped to support.
Recent price action respects both the yellow and blue trendlines.
Key resistance zone around $120K (red horizontal line).
Mid-term projection targets upper wedge area near $180K.
Bullish Scenario
Continuation of higher lows and higher highs suggests trend remains intact.
Break above $121K could trigger a rally toward $150K–$180K (wedge resistance).
Clean support holds above $103K and wedge lower boundary.
Bearish Scenario
Rejection from $121K and failure to hold blue trendline could lead to retest of $84K–$72K zone.
Breakdown below $72K would invalidate the wedge and flip structure bearish.
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.
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.