BTC/USD is currently trading near $108.8K, compressing within a falling wedge formation — historically a bullish continuation pattern, especially after a strong uptrend.
Why the Bias Remains Bullish:
Fundamental Catalysts:
If BTC breaks out above the wedge resistance with convincing volume:
Retest likely at ~$110K
Targets: $115K → $120K+
Why the Bias Remains Bullish:
- Bullish MA Cross: Short-term MAs (9/21) are aligned for upside momentum.
- Falling Wedge: Price compressing with lower highs and lows, coiling for a breakout.
- RSI Strength: RSI (purple) remains elevated, supporting continued upside pressure.
Fundamental Catalysts:
- Trump delays trade war announcements, reducing global uncertainty.
- FOMC meeting in late July: Trump pushes for rate cuts, potentially bullish for risk assets like BTC.
If BTC breaks out above the wedge resistance with convincing volume:
Retest likely at ~$110K
Targets: $115K → $120K+
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