$BTC 1W
2022 Structure: Falling wedge consolidation after the peak, accompanied by a clear bullish divergence on the oscillator. The breakout led to a massive macro rally.
Current Setup: We are seeing a near-identical falling wedge pattern forming right now, paired with another striking weekly bullish divergence at the bottom of the indicator range.
Price is compressing near the top trendline of the wedge around $72.3k.
A confirmed weekly close outside this structure could trigger the next major leg up. Keep an eye on local volume for confirmation.
2022 Structure: Falling wedge consolidation after the peak, accompanied by a clear bullish divergence on the oscillator. The breakout led to a massive macro rally.
Current Setup: We are seeing a near-identical falling wedge pattern forming right now, paired with another striking weekly bullish divergence at the bottom of the indicator range.
Price is compressing near the top trendline of the wedge around $72.3k.
A confirmed weekly close outside this structure could trigger the next major leg up. Keep an eye on local volume for confirmation.