BTCUSD is possibly forming a falling wedge pattern on the hourly and 4 hourly charts. Breakout trade opportunity once price breaks out of this pattern. Target of around 52500$ if it is a bullish breakout. If this target is achieved, this will probably be a resistance test at the recent top we had 2 days ago at around 52650$.
It is also interesting to note that this falling wedge pattern seems to be of similar shape as the one that was formed down to 43000$ recently and we broke out of. Technically we are currently still on a breakout price movement since the falling wedge breakout at around 46500+$ which has a target of around 57000$.
A safer breakout trade is one that has volume on breakout and one that has volume on that breakout.
Falling wedges are usually more likely to break upwards as these are usually bullish patterns. However, bearish breakouts do happen too and a possible target from this falling wedge depending on where it breaks down from has a target of around 41000+$.
Just sharing an observation. Sorry about the many horizontal lines on this chart. These are just price points of interest i have on lower timeframes.
Only trade what you can afford to lose. Nothing is 100%, ever!
Good luck with your trades.