Bitcoin (BTC) Falling Wedge Institutions Still Buying

Since Bitcoin hit an all time high of $42,000 it needed to slow down and simmer. We we briefly formed a symmetrical triangle only to break down into a falling wedge pattern. Wedge patterns can signal either a positive or negative price change. In Bitcoins scenario a falling wedge would be considered a "bullish" pattern. Of course we need to wait for a breakout of the wedge and an increase in volume before we're out.

In a worse case scenario we break down to the $19,000 - $22,000 levels but I'm sure Bitcoin at those prices would get swallowed up instantly.
Institutions such as: MicroStrategy Inc, Grayscale Investments, Square Inc (Cash App), Paypal, Pantera Capital, Skybridge Capital, and ect... Have all been accumulating Bitcoin around these current price levels and I'm sure they'd love to buy panic selling at $20,000 even more. I know I would too.

For most of these institutions accumulating Bitcoin price is completely irrelevant. What matters is how you own.

The fundamentals for Bitcoin have never been stronger. The overall trend is still positive and you have a line of financial institutions waiting to fill their Bitcoin bags this year more than ever before.

Much peace and love. Cheers!

Comment:

Michael Saylor: Bitcoin Could Surge 100x to 1,000x, Crypto Traders Overlooking One Fundamental Issue:
dailyhodl.com/2021/0...e-fundamental-issue/

Comment:

We're starting to break out of the wedge.