BTC Is On The Move! This Pattern Will Hit $10k After Halving

I will break down all the technicals on Bitcoin at this moment. But first of all, Whoa! What a gigantic move on BTC today, it gained over $1000 in a matter of hours. What a rare sight.

Of course, many people are watching at BTC now that the halving is getting closer and closer. It's just 2.5 weeks and the halving is there. With the strong correlation to the legacy markets at this stage and the bullish behavior we can see over there it is not surprising that BTC is increasing still.

However, with an overbought RSI on the daily, we can expect a small retracement. If we look at the break-out of this rising wedge, I do expect that the price does not go through the resistance in one clean move. Many people are using the opportunity to get a short in, but I will focus on the overall view here.

BTC will move again to higher values, it's simply a matter of time. I expect the price to find some support on the top resistance line of the wedge, and then to see the next big anticipated move of going towards the $10,000 area. This has been an area where BTC struggled before, so it will be a great moment to close your longs.

Remember not to FOMO buy, be happy with gains of 5-10%. Trade for the long term, there will be plenty of these opportunities to come.

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!