is currently ending it rise within an small time-frame rising wedge
(yellow lines). A high probability scenario is a fall to around $6k or lower. In a larger time-frame, BTC
is descending within a larger falling wedge
(purple lines), which could in theory bring the price below $5k, but we should first wait and see the further price action before we jump to conclusions. If we take out the February low and we bounce forcefully, I would turn bullish
for at least a couple of weeks.
In a longer term, if we manage to cross the main downward trend line
(orange line on the chart, starting at the ATH
) and bounce from it, that would be a great bullish