#BTCBreaks99K #BTCBreaks99K Bitcoin price may witness a slight correction and then continue its growth in a wedge pattern!
The price is confidently moving within a rising wedge pattern, which often indicates a continuation of strong upward trends, but it also warns of potential exhaustion if momentum fades.
$BTC
BTC
99,448.51
+2.6%
In this case, the wedge pattern forms after a clear impulsive move, supported by a solid base in the buying area.
Multiple impulsive moves from this level and the steady support in the current support area have pushed the price higher, with bullish momentum clearly dominating now.
After breaking through the previous resistance area and retesting the support area, the price began a strong rise.
This move aligns well with the wedge pattern, as the trend lines are tightening upward, indicating that buyers are steadily pushing the price higher while sellers are becoming more aggressive, a situation that often leads to a sudden breakout if resistance is breached. The price of Bitcoin is now trading above the 93700 level, consolidating slightly below the wedge resistance line. Based on the wedge geometry and the strong impulse structure that preceded it, I expect the price to continue rising and test the 100000 level, which perfectly aligns with the upper limit of the wedge and represents the first profit target.
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