Rising Wedge of Doom ?? BTC/USDT #Bitcoin #BTC $BTC

Here we see our Bitcoin weekly chart from Binance . You see those black lines ? They are outlining what appears to be a Rising Wedge pattern . This pattern starts out a bit wider at it's base but then the trading range definitely narrows as it moves upwards . These Rising Wedge patterns generally break bearish at some point . The question is when ? How high do we go before we break bearish ? We already hit just about perfectly up to the 3.618 fib extension near 64500 . You see that red question mark ? That would be one of the next fib extension targets and it's 75000 area. My guess is we would retake the 65k area first - then move on to 68k - 70k - 72k - all of which are possible target areas . 75k might be our target after that but there's no way of knowing because Bitcoin can break bearish much sooner than that . It could also surprise us and blow right past those targets. But right now we appear to definitely be inside a large Rising Wedge pattern from at least the beginning of 2021 . Chances are it will break bearish at some point and go down .