⚠️ Rising Wedge Formation Detected!
Bitcoin is currently moving within a clearly defined Rising Wedge—typically a bearish reversal pattern indicating possible exhaustion of upward momentum.
🔸 Upper Resistance Zone: ~$108,700 – $109,000
🔸 Lower Support Zone: ~$106,400 – $106,700
🟢 Bullish Scenario:
If price breaks upward decisively (high volume above $109K), it can invalidate the wedge and target $110K+.
🔴 Bearish Scenario (more likely):
If price loses the lower boundary (~$106.4K), expect accelerated selling pressure with potential downside targets near $105K–$104.5K.
Wait for clear breakout/breakdown confirmation before entering trades.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.