BTC/USD completes the corrective cycle

BTC – first, the big picture analysis. The whole move higher from the November 21 swing low is analysed as a fourth wave correction. This keeps the medium-term bias firmly skewed to the downside.
The intraday chart highlights an Expanding Wedge pattern. We can see a 3-5-5 formation, which is common in corrective patterns. The yearly point of control is seen at 94,016. This has attracted profit-taking this morning, with institutional traders soaking up liquidity. In summary, I'm bearish on the cryptocurrency major