Bitcoin log chart: Rising wedge?
Bitcoin / TetherUS BINANCE:BTCUSDT
If you look at the log chart, Bitcoin seems to have formed a rising wedge . The recent ranging market is, perhaps, a consolidation before eventual downtrend. If Bitcoin does decrease, it could drop to 29K, the past support that Bitcoin held for 2 times. Then around 23K, which is the “most optimistic price action target” for Bitcoin . Further targets? Could be 11K–13K. Despite that, this is just a speculation based on the log chart, so beware if you do open a short position. But for now, Bitcoin is definitely not the thing you want to HODL.
