Yesterday we saw BTC breaking out of the falling wedge everyone was talking about. Now Bitcoin is trading slightly below the upper edge of what I consider to be the next bigger falling wedge , which I indicated in this post a couple of days ago:

If we zoom in on the 1HTF, we can see a bull flag in the making, which – if this plays out the way it should be – will lead to a breakout attempt of the bigger falling wedge . A first target would be the area around $40.4K

Please remember, once BTC moves above $40K, it enters a zone, which historically has shown a lot of sell pressure within the last months.

Let’s see how this plays out.

Thanks for your support.

Have a good one.