Bitcoin is consolidating within an ascending broadening wedge pattern and is currently trading just above the support trendline. Both the 50-day moving average and the Ichimoku Cloud are acting as resistance barriers above the current price action.
A breakdown below the wedge would likely trigger a market correction, while a breakout above the 50MA and the Ichimoku Cloud could signal a continuation of upward momentum. Monitor price action closely for confirmation of the next move.$BTC
The total cryptocurrency market cap has broken out of the descending channel and is now trading above the horizontal supply zone. Both the 100MA and 200MA are acting as strong support levels, indicating bullish strength. A confirmed candle close above this zone could signal further gains across the crypto market.