BTCUSD 1H. Falling Wedge - A Bullish Idea.
Line Chart. Looks like a falling wedge developing here. I also like that small ascending channel within, for me this adds weight to a possible bullish upturn from this correction sooner rather than later. However the support zone seen within the rectangle to the left of the chart is not particularly convincing. But it is still support. We are in a bullish market, perhaps this is all the support that's needed. If BTC can break the upper orange coloured trend line convincingly then those waiting at around 40K way well get triggered, conversely a break of the lower orange trend line will trigger the sellers.. Neutral for now with a bullish lean.
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