Bitcoin Short Term Prediction 02/01/22

Looking at the daily chart, the BTC price has been recovering since dipping over 50%, to a price of $33K last Monday.
However, Bitcoin is still beneath two critical resistance areas right now. First is the yellow downward trend-line pushing the price down each time BTC attempted to break above it, and the second zone is the range marked in red between $39K and $41K.
Based off descending wedge pattern, from TA stand point, it is safe to assume that there is a higher possibility of breakout at 39k, however it's still too early to tell.
On the other hand, the daily RSI has broken out of the multi-month low downward resistance. The two previous breakouts had led to huge bullish moves over the past year.
In conclusion, the two likely scenarios are :
‌ Breaking above the descending wedge (around the $40K zone), consolidate above the zone for a while, generate a pullback to the resistance, and begin a price rally into the $50-60K channel.

Getting rejected by both the trend-line and the horizontal resistance area, forming a new lower-high to confirm the bearish trend towards 30-33k near the lower end of wedge pattern.

Trade closed: target reached:

BTC woke up this morning following NFP news, broke 39k as predicted and headed towards 43k resistance. BTC moving above 100 EMA would mean path towards recovery.