Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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BTC is in the consolidation phase after a massive pump 9 days ago. While the 38.2% Fib. holds the plummets, a rising wedge is also established in the 4H timeframe.
Base on modern chart pattern statistics, a rising wedge on the bullish market has 78% of a 28% advance and 95% of a 14% decline. As a result, in case of breaking out the pattern, BTC has 58% of reaching $12,100 area and it has 46% of meeting $8,100 area.
Besides, my TRIX indicator points to an unclear of the current trend. Although it lies in the positive zone, it can turn back to the negative zone at any time from now.