Bitcoin Daily Time Frame

In the daily time frame Bitcoin can be seen forming a rising wedge or an upward channel. It might stay within the wedge for a long period of time. We might see it testing the upper trendline of the wedge close to 58K to 59K after which we can see a correction. Or it might also break the wedge towards the upside. Although rising wedge is a bearish pattern, the possibility of Bitcoin breaking the wedge towards downside in near future seems very low. It might stay withing the wedge for some time.