🔥 Bitcoin Rising Wedge Break Out: Trend Shifted!

In my most recent BTC analysis I talked about the rising wedge pattern, where BTC broke out off. My initial expectation was that we'd fall further, but we saw a retest of the bottom support before going down again.

This is bearish. Breaking out and retesting the previous support/resistance is generally seen as confirmation in the shift in trend.

I'm looking for more bearish price action over the next few days. Targets in blue.

In the longer-term the chart still looks bullish. However, that doesn't mean that we can't look for short-term shorting opportunities.

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✅ Target 1 hit

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✅ Target 2 hit