As we can see in this chart, bitcoin is currently trading within a potential ascending wedge pattern with resistance at the $10,500 level.
We are currently being held up perfectly by both the lower trend line but also the Fibonacci Golden Pocket. In the event that bitcoin can continue to gain strength over the next few days to weeks then it's quite likely that we will see a retracement upwards of $9,000 in the near future.
Nearing the apex of this wedge in November at the latest we can expect quite a large break from this formation either to the upside or the downside. However as we know, Bitcoin doesn't often like to stay in one place for too long and therefore we will most likely see a breakout much earlier and given the bullish sentiment around the halving I currently have high hopes for the results of this move.
We are currently being held up perfectly by both the lower trend line but also the Fibonacci Golden Pocket. In the event that bitcoin can continue to gain strength over the next few days to weeks then it's quite likely that we will see a retracement upwards of $9,000 in the near future.
Nearing the apex of this wedge in November at the latest we can expect quite a large break from this formation either to the upside or the downside. However as we know, Bitcoin doesn't often like to stay in one place for too long and therefore we will most likely see a breakout much earlier and given the bullish sentiment around the halving I currently have high hopes for the results of this move.