Judging by market movements the last few days, it would seem a falling wedge has developed on the hourly chart.
Falling wedges are obviously quite bullish, and can indicate a bullish break to the upside - and based on Bitcoin's fundamentals, my bias is certainly leaning toward the case.
Based on the traditional pattern of a falling wedge breakout, we should see a target of around the $69,000 zone, with some sideways movement, before our next leg up.
LFG!
Falling wedges are obviously quite bullish, and can indicate a bullish break to the upside - and based on Bitcoin's fundamentals, my bias is certainly leaning toward the case.
Based on the traditional pattern of a falling wedge breakout, we should see a target of around the $69,000 zone, with some sideways movement, before our next leg up.
LFG!
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