#Bitcoin $BTCUSD The Wedge dilemma.

BTCUSD Key Levels:

1. 109k [ATH]
2. 150k [Next psychological mark]
3. 85k [Broken channel upper wedge]
4. 75k [Massive Demand]


BTCUSD is currently trying to break a historical, old and respectful channel's upper wedge. Technically speaking, this wedge is a very significant level where it has been tested 5 times so far "illustrated on the chart". The last 2 attempts have shown that the wedge is still valid.

Scenario A:

Euphoria and institutions buying pressure will keep the price trading close enough to the wedge until it breaks out where it unlocks a new uncharted zone extended to the next psychological mark 150k.

Scenario B:

Price falls back to the nearest visible and massive demand zone around the 75k mark.

I lean on a correction to the closest demand zone around the 75k mark.

Corrections:

It is worth noting that every time the price tests this wedge it causes a significant correction. "Check the illustrated table on the chart".

Conclusion:

Closing above 116k unlocks an uncharted zone to 150k
Trading below the historical wedge will lead eventually to a retest of the 75k price level.


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