Pair: BTC/EUR – 1D – Binance
Bitcoin has been forming a rising wedge pattern over the past months, which statistically breaks downwards in most cases. The price already failed to hold the lower trendline, which confirms the bearish scenario for now.
Key takeaways from my analysis:
Pattern: Rising wedge → High probability of a downside move
Current situation: Price broke the lower support trendline
Target zones:
Level 1: First major support
Level 2: Strong demand zone / possible bounce area
Sentiment: Many “moon boys” are still expecting a breakout to new highs, but structurally the chart looks weak. If this breakdown continues, those chasing FOMO rallies might get rekt again.
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage your risk.
Bitcoin has been forming a rising wedge pattern over the past months, which statistically breaks downwards in most cases. The price already failed to hold the lower trendline, which confirms the bearish scenario for now.
Key takeaways from my analysis:
Pattern: Rising wedge → High probability of a downside move
Current situation: Price broke the lower support trendline
Target zones:
Level 1: First major support
Level 2: Strong demand zone / possible bounce area
Sentiment: Many “moon boys” are still expecting a breakout to new highs, but structurally the chart looks weak. If this breakdown continues, those chasing FOMO rallies might get rekt again.
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage your risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.