$BTC Chart 1 hour BTC/USDT (Bitcoin against Tether) on the Binance platform with quite interesting technical analysis. Here is the explanation:

Patterns Formed

A Rising Wedge is visible, which is a pattern consisting of two converging trend lines that point upwards.

This pattern is generally considered a bearish pattern, especially if there is a breakdown below its support line.

In this chart, the price has already broken below the wedge, indicating a possible reversal or price decline.

Confirmation of Breakout

After the breakout, there is a retracement or pullback back to the breakdown area before continuing down - this is a typical "retest" in technical analysis.

This is a short setup, with expectations of a price decline after the breakout from the rising wedge.

The target is a drop of around 16%, approaching the size of the previous movement of the same pattern (based on the white vertical line).