Depending on how you view it, whether you're looking for bitcoin to pump or dump, we are very much at a point of high volatility, where the price is likely to move 10% or so in either direction, maybe in the next day or two.
The boxes on my chart are areas for order blocks in the current trading, around the horizontal support & resistance lines.
If bitcoin moves...
Descending Broadening Wedge on BTCUSD chart indicates a bullish breakout when it will exit the channel.
It could be days, weeks or months away, but it is the general trend and likely outcome I see, anyway.
Of course, I could be wrong. I'm just going with the statistics here.
Beyond that, the world's situation with the CoronaVirus (Covid-19) and the markets...
Looks to me like a Cup & Handle formation is building up.
It started shortly after the famous "President Xi Pump" in Oct 2019 and the handle looks like it's about to go to the upside, if it plays out by the book.
Of course, bitcoin loves to surprise, and also to not do exactly what a lot of people tend to think.
Whichever way it goes, it seems like we'll know...
