#BTC: Upward Trend Emerging? Breakout from Falling Wedge Pattern
Updated
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Great recovery so far! After a quick dip to 56k, Bitcoin has shown some resilience.
As you can see on the chart, the price surged above the crucial resistance level of 62k, potentially confirming a bullish reversal or deviation. Additionally, the breakout from the falling wedge pattern adds further bullish technical momentum.
Based on this pattern, we could potentially see a price increase towards the previous high of $73,400. However, it's important to note that this is just a possibility.
Invalidation of this bullish scenario: A daily close below the 62k level would weaken the current bullish momentum. ⬇️
What are your thoughts? Share your technical analysis and insights in the comments below!
Great recovery so far! After a quick dip to 56k, Bitcoin has shown some resilience.
As you can see on the chart, the price surged above the crucial resistance level of 62k, potentially confirming a bullish reversal or deviation. Additionally, the breakout from the falling wedge pattern adds further bullish technical momentum.
Based on this pattern, we could potentially see a price increase towards the previous high of $73,400. However, it's important to note that this is just a possibility.
Invalidation of this bullish scenario: A daily close below the 62k level would weaken the current bullish momentum. ⬇️
What are your thoughts? Share your technical analysis and insights in the comments below!
Note
#BTCUSDT : BTC is still in the safe zone. Currently, trading above the falling wedge. Expecting the same target of
73K-74k level. Invalidation:- Close below the 62k level.
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