Bitcoin BTC Knocking At The Castle Door

Bitcoin has had a strong 8 days and is coming close to very strong resistance. If BTC is really gearing itself up for a real run, it needs a lot of strength to push ahead from here. The most likely way it will gain this strength is by a slight correction somewhere around this area indicated on the chart. This is suggested by the wedge pattern break down and retest of the local bullish trend line. Even if it holds the black local trend line that initial breakdown suggested a retest of 34.7k is likely.

Once we see this correction it will be all eyes on BTC to see if it can hold 34.7k and break that Red downtrend resistance shown in the second chart.
If we see a break out of that red downtrend line BTC is likely on the second half of its run.

Here is a previous post where I show the best-case scenario for BTC going forward. I have linked it here so you can give it a look for yourself.

Thank you for taking the time to check out the analysis, I hope you found it useful. Comments are more than welcome;