Bitcoin rising wedge pattern (short-term analysis)

Technical Indicators:
Price Movement: The current price is around $100,891.5.
Exponential Moving Average (EMA): The 200-period EMA is at $92,525.3, which indicates a long-term bullish trend as the price is well above the EMA.

Chart Patterns:
Rising Wedge: The chart shows a rising wedge pattern, which is typically a bearish reversal pattern. The price is nearing the upper boundary of the wedge.
Support and Resistance Levels:
Immediate Resistance: Around $101,275 (recent high).
Immediate Support: The lower boundary of the rising wedge, currently around $100,000.
Major Support: Around $92,525.3 (200 EMA) and $86,752.2 to $85,207.4 (horizontal support levels).

Bullish Scenario:
If the price breaks above the upper boundary of the rising wedge and surpasses the recent high at $101,275, it could signal a continuation of the bullish trend. The next potential target could be around $105,000.

Bearish Scenario:
If the price fails to break above the resistance and falls below the lower boundary of the rising wedge, it could indicate a bearish reversal. In this case, the price may test the 200 EMA at $92,525.3 and the horizontal support levels at $86,752.2 and $85,207.4.

Volume:
The chart does not provide volume details, but volume is crucial to confirm any breakout or breakdown. A breakout above the resistance with high volume would be a strong bullish signal, while a breakdown below the support with high volume would confirm the bearish reversal.

Conclusion:
Currently, BTC is at a critical juncture within a rising wedge pattern. Traders should watch for a breakout above $101,275 for bullish confirmation or a breakdown below the wedge for a bearish signal. Pay attention to volume during these movements to confirm the validity of the breakout or breakdown.