BTC has recently achieved a significant breakout above the falling wedge pattern in the three-hour timeframe, raising questions about potential bullish momentum in the market. However, despite this development, caution is warranted in confirming a bullish trend. Notably, BTC has been consolidating within a narrow range between
29K
to $29.7k for the past six days, without a major price movement.
In addition to the falling wedge pattern, a symmetrical pattern has also emerged, adding complexity to the current scenario. Despite the breakout in the falling wedge, it is crucial to acknowledge that BTC is now at the resistance zone of the symmetrical triangle.
While positive movements may be on the horizon, it is imperative for BTC to maintain its position and avoid breaking below the
29K
support level.
Monitoring BTC's price action closely is advised, as this will provide valuable insights into the market's direction and potential further developments.
Wishing you informed decision-making and successful trading.
Best regards,
Team Dexter
29K
to $29.7k for the past six days, without a major price movement. In addition to the falling wedge pattern, a symmetrical pattern has also emerged, adding complexity to the current scenario. Despite the breakout in the falling wedge, it is crucial to acknowledge that BTC is now at the resistance zone of the symmetrical triangle.
While positive movements may be on the horizon, it is imperative for BTC to maintain its position and avoid breaking below the
29K
support level. Monitoring BTC's price action closely is advised, as this will provide valuable insights into the market's direction and potential further developments.
Wishing you informed decision-making and successful trading.
Best regards,
Team Dexter
