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BTC outlook - Bearish trend continues!

Here's a quick look at the daily BTC chart. As we can see, the price has been on a downtrend for several months now, and it doesn't seem to be reversing anytime soon. The price is currently very close to a break to the downside from its current rising channel. The most important level to hold above atm. is 20.5k. If we lose that level, the price will eventually revisit 18k, and if that doesn't hold as well, then there's a very high possibility of 10k BTC since there is no support between 19k and 12k.
Also if DXY keeps rallying, then expect more downside for BTC!
Altcoins are extremely high risk right now - Trade Safe!
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What Is a Wedge in the context of trading?:

"A wedge is a price pattern marked by converging trend lines on a price chart. The two trend lines are drawn to connect the respective highs and lows of a price series over the course of 10 to 50 periods. The lines show that the highs and the lows are either rising or falling and differing rates, giving the appearance of a wedge as the lines approach a convergence. Wedge-shaped trend lines are considered useful indicators of a potential reversal in price action by technical analysts.

Key Takeaways for Falling wedges:

1. Wedge patterns are usually characterized by converging trend lines over 10 to 50 trading periods.

2. The patterns may be considered rising or falling wedges depending on their direction.

3. These patterns have an unusually good track record for forecasting price reversals."
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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!