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$BTC HTF - Rising Wedge Bearish Pattern But Doesn't Matter?

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Bitcoin (COINBASE:BTCUSD)  
BullAndBearCrypto  
COINBASE:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Technical Indicators Bitcoin (Cryptocurrency)
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trendanalysis chartpattern indicator bitcoin
BTCUSD

Looking at BTC on the 1D time frame we can see we have a rising wedge approaching resistance at the $8000 level.

A few things to observe as we approach the $8000 level

  • Round psychological level
  • Has also been resistance and support in the past
  • We can also see on VPVR $8K range has one of the highest nodes in the value area
  • Plus we have the 100 & 200 day moving average converging to play as resistance

Chance of rejection from this level is more likely that not.

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