$BTC has slipped out of the rising wedge and is now attempting a rebound from the Ichimoku Cloud’s lower band which is currently serving as a key support zone.
Holding above this cloud layer could spark a short-term recovery and push price back toward higher levels.
But if $BTC loses this support and dives below the cloud, it may trigger a deeper corrective leg in the market.
$BTC has recently broken down from the rising wedge pattern, accompanied by a noticeable surge in trading volume a classic sign that sellers are taking short-term control.
Despite this move, $BTC is still holding above the 50-day Moving Average 50 MA.
Which is currently serving as a critical dynamic support zone.
The 50 MA remains the immediate line in the sand for bulls.