BTC Chart Pattern (Reverse inverse Wedge)
2024-11-09

So I have done a number of charts that are inherently bullish on BTC, and this one remains no different.

I am still expecting $100k BTC, in December, which was mentioned in my discord. The rest of my thoughts, are just predictions in-between that...

This chart here, is looking at a reverse descending wedge pattern (If the chart was inverted and the wedge was reversed) - This with a midpoint that so far seems valid.

I am taking the logic of a 17% drop to the floor of this wedge, and applying it breakout style to the top of the midpoint, giving us a potential target of $84,312...

Now, I couldn't find a valid chart analysis pattern to base this off - As wedge formations are all seemingly in the opposite direction to this, but as we use every other indicator, also in reverse, I don't see why we cannot do the same here.

Just throwing ideas - It seems to match up - Only time will tell!...

A short term bearish movement may happen, to this midpoint - regarding correctional confine expectations within Bitcoin, although this may not be the case - The target is still $84k here.
