Bitcoin Daily Time Frame
In the daily time frame Bitcoin can be seen forming a rising wedge or an upward channel. It might stay within the wedge for a long period of time. We might see it testing the upper trendline of the wedge close to 58K to 59K after which we can see a correction. Or it might also break the wedge towards the upside. Although rising wedge is a bearish pattern, the possibility of Bitcoin breaking the wedge towards downside in near future seems very low. It might stay withing the wedge for some time.
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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.