Bitcoin❗ - Reviewing the Local Situation

On the 4-hour chart, $BTC has formed a wedge pattern. A breakout and consolidation beyond the formation’s boundaries will help better forecast the next directional move:

▫️ A breakout and consolidation above the pattern would allow buyers to once again test the $70,000 level.

▫️ A 4H close below the formation would signal a deeper correction. In that case, I expect a sweep into the $58,000–$55,000 area over the next few weeks.

Given the current weakness from buyers, I’m prioritizing a downside move. I plan to use a potential correction into this range to build a spot position in $BTC

BTC

67,894

+0.84%