🔥 Bitcoin New All-TIme High: Potential Bearish Wedge

A while ago I made an analysis on Bitcoin and the bounce that caused the push to the new all-time high.


Congratulations on all the hodlers who have yet again seen a new all time high. However, a bearish wedge is forming on the chart over the last few months.

On the near term, I'm 50/50. Bearish wedges will often break bullish in strong bullish trends. However, BTC is overbought at the moment with a very high funding rate. We might see a correction coming our way in the near future.

In case of a correction, I'm expecting the price to encounter serious support in the Support Area. Most likely the price will reverse from there.

Happy trading!