Bitcoin has been moving strongly inside an upward wedge, which usually shows a bullish trend but can also mean the move is getting weaker if momentum drops.
In this case, the wedge appeared after a strong push up and is supported by a solid buyer zone. The price has bounced from this area a few times, showing strong demand and keeping the bullish trend in place.
After breaking through a key resistance level and retesting it successfully, Bitcoin started another strong move up. This fits well with the wedge pattern, where both the top and bottom trendlines are rising and narrowing. This shows buyers are still pushing higher, while sellers are also becoming more active — often a sign that a breakout could happen soon.
Right now, BTC is trading above 93,700 and consolidating just below the upper wedge line. Based on the pattern and the strong momentum behind it, I expect the price to continue up and test the 100,000 level — which also lines up with the top of the wedge. That’s my first take profit (TP1) target.
Trade at your own risk.
Best Regards,
Trade Cryptocurrency
Stay tuned for more updates#Stay tuned for more updates#
ChatGPT can make mistakes. Che