BTCUSDT - Bearish sign?
2024-12-24
Category: None

daily chart displays a ascending broading wedge pattern 

can notice obviously how price action going when touches the lower side of the pattern

You'll notice a full absorption of the candle, with only a wick touching the lower part of the pattern.

It's important to understand that the ascending wedge pattern is inherently bearish, often signaling a downward move. However, Bitcoin rarely gives you a clear short signal like this—it will likely liquidate all short positions first.

What’s expected is a strong upward move in the coming days, followed by a drop. Bitcoin’s target for this correction is 85k.

