Paraphrased Version:
Bitcoin might experience a minor correction before continuing its upward movement within a rising wedge pattern. This structure typically indicates a strong bullish trend, though it can also suggest weakening momentum if buyers lose strength.
Currently, BTC is trading confidently within the wedge, which formed after a significant impulse move and is well-supported by a strong demand zone. Repeated bullish reactions from this level and consistent support have driven prices higher, with momentum now clearly favoring the bulls.
Following a breakout above the previous resistance and a successful retest of the support, BTC launched into a sharp rally. This aligns with the wedge’s formation, where both trend lines are ascending and narrowing, showing persistent buying pressure and increased seller activity—often a precursor to a powerful breakout if resistance is overcome.
At the moment, BTC is hovering above 93,700, consolidating just below the upper wedge boundary. Given the wedge structure and prior impulse strength, I anticipate continued growth toward the $100,000 level, which coincides with the upper resistance of the wedge and marks my first take-profit target (TP1).
Reminder: Always trade responsibly.
Best regards,
Trade Cryptocurrency
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