14d • Market Updates 📊
Bitcoin Rising Wedge Could Go Either Way...
Here we can see Bitcoin is trying to break higher and is attempting to reclaim the 21 and 50 day EMA's here, but really we need to see a break and close above the $66k resistance to be meaningful.
There is some buyer support just below at the $62K range (in Green) but this could easily be taken out on the downside with a rejection at $66k.
The upside target if $66k breaks higher is heavy seller resistance at the $70k level, so I do think we push up there and reject, then roll over to hit the $50k cycle low range which I've covered in other studies.
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Bitcoin Rising Wedge Could Go Either Way...
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