BTCUSDT is consolidating within a descending wedge right above a critical demand zone, following a impulsive breakout from its prior range structure. This current setup suggests another potential bullish continuation, especially as price continues to respect both the wedge support and internal demand.
With the higher timeframe structure favoring bulls and previous demand zones holding firm, the projected breakout targets align with 123,218 and 134,446 respectively.
A clean invalidation would only be confirmed on a sustained break below the wedge and loss of the strong support area near 110K.
All eyes on the wedge apex as BTC prepares for its next major leg.
Bitcoin Dominance rising wedge is approaching a critical trendline support. A breakdown from this level could trigger the long-awaited altcoin season, making this a key development to watch.
RSI remains below the 50% mark, reinforcing the underlying bearish momentum in the index.
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