$BTC is currently forming a rising wedge pattern on the 1Hr timeframe 🔥
A structure typically known for signaling potential bearish reversals after a strong upward move.
Key Levels to Monitor 💻
Upper Resistance: ~$108,200
Wedge Support: ~$106,000
Critical Breakdown Zone: Below $106,000 with volume
Immediate Downside Targets:
$104,000 (previous support)
$102,500 (structure base)
Invalidation: Strong breakout above $108,500 with volume
Why it Matters:
A rising wedge signals momentum weakness — price is climbing, but buyers are losing steam. If support breaks, a sharp correction could follow, especially with leveraged positions stacked at the top.
Watch for volume confirmation and a decisive candle close below support for potential short opportunities.
