luscaph

Long-term Rising Wedge for BTC - Potential target

Long
BINANCE:BTCUSDT.P   Bitcoin / TetherUS PERPETUAL CONTRACT
This pattern can be seen on multiple time frames, with multiple touches on the trendlines validating the pattern. The projection is that BTC touches the top trendline again, and comes down to the bottom trendline. I expect a break of the trendline at this point, with the target being 40k. This can be backed up by the sequential bearish divergences on the daily timeframe.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.