BTC trend reversal on the cards with a breakout of this pattern.
BTC Perpetual Futures Contract BINANCE:BTCPERP
Hi all I currently believe BTC is in a falling wedge pattern, reasons are as follows…
Reasoning
– Downtrend made of lower highs & lower lows
– Trend line connecting the lower highs is steeper
than the one connecting the lows
– Decreasing sales volume
This gives 2 scenarios –
1/ A breakout to the upside which would indicate a trend reversal along with a probable push to $45k +
2/ Rejection at this level would likely see BTC break down to the $34k for a quick pause before going lower to the sub $30k region.
Keen for your thoughts
Blockbullder
