Bitcoin is currently retesting the lower boundary of a long-term Falling Wedge, a pattern that has historically been associated with bullish reversals after extended downtrends.
Chart Observations
• Price is trading near the wedge's major support around $58K–60K.
• The descending resistance line continues to cap bullish momentum.
• Multiple touches on both trendlines strengthen the validity of the pattern.
• A successful defense of support could mark the beginning of a significant trend reversal.
Bullish Scenario
A confirmed breakout above the wedge resistance could open the door to:
🎯 Target 1: ~$108,000
🎯 Target 2: ~$126,000
These targets are derived from the projected move of the falling wedge pattern.
Bearish Scenario
If Bitcoin fails to hold the current support zone, the bullish structure would weaken, and additional downside could follow before any meaningful recovery.
Trading Plan
✔ Wait for a confirmed breakout with strong volume.
✔ Avoid anticipating the breakout before confirmation.
✔ Manage risk with proper position sizing and stop-loss placement.
The current support zone is one of the most important levels on the chart. Whether BTC holds or breaks this area will likely determine the next major move.
Chart Observations
• Price is trading near the wedge's major support around $58K–60K.
• The descending resistance line continues to cap bullish momentum.
• Multiple touches on both trendlines strengthen the validity of the pattern.
• A successful defense of support could mark the beginning of a significant trend reversal.
Bullish Scenario
A confirmed breakout above the wedge resistance could open the door to:
🎯 Target 1: ~$108,000
🎯 Target 2: ~$126,000
These targets are derived from the projected move of the falling wedge pattern.
Bearish Scenario
If Bitcoin fails to hold the current support zone, the bullish structure would weaken, and additional downside could follow before any meaningful recovery.
Trading Plan
✔ Wait for a confirmed breakout with strong volume.
✔ Avoid anticipating the breakout before confirmation.
✔ Manage risk with proper position sizing and stop-loss placement.
The current support zone is one of the most important levels on the chart. Whether BTC holds or breaks this area will likely determine the next major move.
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FOLLOW MY TELEGRAM CHANNEL FOR FREE : bit.ly/3JfrpgV
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.