BTCUSDT has been following a rising wedge pattern with a broadening descending trinagle to hold the price consolidation in btc. At the vertex of the rising wedge, btc has formed has formed a bearish head and shoulder pattern in which the neckline has been broken making it vulnerable for downfall. The current price is at the support of the wedge, a little impulse is expected for a retest at $46.5k then a downtrend to the horizontal key support line of the triangle ($43.6k) if btc fails to break the resistance zone at $46.5k. In the event, we see a downfall to the triangle's support line, a bounce is very possible to the $50k target. This is the time to stay observant as we at the crucial state of bitcoin.
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Btc is still maintaining position of the rising wedge. We saw price bounced from $45.6k to the previous high at $48k. Is btc going to breakout from the rising wedge or is it the beginning of another bear season?
