BTC Rising Wedge with Possible Bullish Breakout

4 Des 2024

Im posting this idea because the formation the price action is making is a rising wedge. This shape has a bias toward breaking down and forming new lows. In this case, the 50 simple moving average has managed to stay above the 100 simple moving average and the price has managed to hold above the 50 simple moving average. RSI is only 48 at time of publishing on the H4 Chart.

I think BTC will break to the upside here and manage to print a price above 100k. Minimum target is 101,900 the 1.236 extension from previous High swing Low.

Not financial Advice, do your own DD.

Thanks for viewing the idea.

4 Des 2024

Catatan

here is the pa, 50 and 100 simple moving average all respecting eachother