#BTCBreaks99K The price of Bitcoin may witness a slight correction before continuing its growth in a wedge pattern!
The price moves confidently within a rising wedge pattern, often indicating a continuation of strong upward trends, but it also warns of potential exhaustion if momentum fades.
$BTC
BTC
99,448.51
+2.6%
In this case, the wedge pattern forms after a clear impulsive movement, supported by a solid base in the buying area.
Multiple impulses from this level and steady support in the current support area have pushed the price higher, with bullish momentum clearly dominating now.
After breaking through the previous resistance area and retesting the support area, the price began a strong upward movement.
This movement aligns well with the wedge pattern, where the trend lines are narrowing upwards, indicating that buyers are steadily pushing the price higher while sellers become more aggressive, a situation that often leads to a sudden breakout if resistance is breached. The price of Bitcoin is now trading above the 93700 level, consolidating slightly below the wedge resistance line. Based on the wedge geometry and the strong impulse structure that preceded it, I expect the price to continue rising and test the 100000 level, which perfectly aligns with the upper limit of the wedge and represents the first profit target.
#BTCtrade
