The recent rise of Bitcoin is not random; it follows a "broadening wedge" pattern!
The recent surge of Bitcoin is not taking off out of nowhere, but is following a classic pattern — the ascending broadening wedge.
This pattern has been ongoing for several weeks, characterized by increasing amplitude of fluctuations, while overall moving upwards. In other words, it’s stable yet explosive, widening as it progresses, making it prone to large bullish candles.
Although it is not as decisive as a straight-line breakout, it provides stable upward space and is also an ideal structure for market makers to wash out positions and eliminate floating capital.
The key is: this kind of trend can build more momentum and is more likely to brew a sudden explosion.
