If the trend is to follow the descending broadening wedge formation,
The next bearish target for Bitcoin will be around the 16.2k mark.
A break below would see our next line of support at around 15.6k.
A descending broadening wedge is generally a bullish pattern, however, given the macro bearish momentum I would not anticipate a break out on this turn.
Possible Bullish Confirmation: A break above the 17.2k mark.
The next bearish target for Bitcoin will be around the 16.2k mark.
A break below would see our next line of support at around 15.6k.
A descending broadening wedge is generally a bullish pattern, however, given the macro bearish momentum I would not anticipate a break out on this turn.
Possible Bullish Confirmation: A break above the 17.2k mark.