Hello Partners,
Bitcoin’s push back to $122K has everyone excited — and yes, an all-time high could still be on the cards. 🚀 But the daily timeframe is telling a different story.
BTC is carving out a bearish rising wedge, a formation that often signals a potential reversal. This doesn’t mean the rally is over, but it’s a clear reminder to manage risk as we head into this critical zone.
Key Levels to Monitor:
🔹 Support: $120K & $118K — losing these could invite stronger selling pressure.
🔹 Resistance: $122.8K & $125K — breakout here could invalidate the wedge.
The market is still bullish, but the charts are flashing caution. Trade accordingly. 📊
Updated Title Ideas:
BTC at $122K: Rising Wedge Could Stall the Rally
Bitcoin Rally Faces a Bearish Test on the Daily Chart
BTC’s Hidden Bear Flag? Rising Wedge Spotted at Key Resistance
Bitcoin’s $122K Surge Meets a Technical Warning Sign
BTC Bulls Cautioned: Chart Pattern Signals Potential Pullback