Bitcoin break or fail

7 ביוני 2023

Bitcoin retested the previous resistance high and rejected now flipped into support (congestion area). Also formed a falling wedge which is reversal pattern. we can clearly see the 200 week MA heatmap acting as support to the price. If the price breaks the falling wedge then we will see the price continues to the upside. The RSI shows there is a momentum to upside and if it breaks above 50 level then that is clearly sign of shifting momentum to the upside.