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Criiiisp
Apr 23, 2021 8:41 PM

Bitcoin possible rising broadening wedge on the daily chart  

Bitcoin / TetherBittrex

Description

Bitcoin might be forming an rising broadening wedge with a breakout target of 80k on the daily chart, although it didn't quite reach point "D", this could be caused by the overall Bullish market sentiment. Bitcoin bounced perfectly from the POC of the VPVR and the blue support line. Right now it looks like we are forming a hammer candle which always indicated a reversal in this bull run, on the lower time frames the market structure is also Bbullish. If Bitcoin fails to complete the pattern and breaks down our next major resistance will be 43k which would be the target of the ascending wedge (green line), furthermore there are 2 Support lines first the resistance zone and a long term Support line coming from the 2017 bull run and 2019 run up.
Comments
watchtrend
Thanks for your idea, expecting a increase trend btc.
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