Price started out with a Descending Wedge Pattern at the beginning of 2021, the breakout enabled the bulls to push price 30% higher to $57k from $41k.
Seven months down the line and we're back where we started, $30k. The bears really tried their best to break below $30k but they just kept on liquidating their accounts & while all this was happening a 2nd desc. wedge pattern was forming then price broke out (after The B-Word Webinar) so now we're back at $41k.
Break above $41k will invite a 2nd 30% move higher; $57k.
Only difference this time though is, this 2nd desc. wedge is larger than the 1st which translates into a larger move if this pattern breakout delivers.
Seven months down the line and we're back where we started, $30k. The bears really tried their best to break below $30k but they just kept on liquidating their accounts & while all this was happening a 2nd desc. wedge pattern was forming then price broke out (after The B-Word Webinar) so now we're back at $41k.
Break above $41k will invite a 2nd 30% move higher; $57k.
Only difference this time though is, this 2nd desc. wedge is larger than the 1st which translates into a larger move if this pattern breakout delivers.