While breakout sellers short the pullback, this falling wedge consolidation on $BTC is coiling directly above key intraday support for a bullish continuation.
After a strong upward rally, price pulled back inside a tight descending wedge pattern, currently testing support near $85,279[span_0](start_span)[span_0](end_span). The Supertrend indicator and local horizontal support zone signal that buyers are defending the lower boundary, setting up potential expansion out of the flag structure[span_1](start_span)[span_1](end_span).
A clean breakout above the descending wedge resistance line confirms the upside move, opening target one at $86,700 and target two at $88,000[span_2](start_span)[span_2](end_span). Holding above local support near $84,500 maintains the bullish thesis, while a breakdown below invalidates the setup[span_3](start_span)[span_3](end_span).
Don't short into falling wedge support—wait for price expansion to confirm the next leg higher.
#BTC #Bitcoin #CryptoAnalysis #TechnicalAnalysis #Trading
After a strong upward rally, price pulled back inside a tight descending wedge pattern, currently testing support near $85,279[span_0](start_span)[span_0](end_span). The Supertrend indicator and local horizontal support zone signal that buyers are defending the lower boundary, setting up potential expansion out of the flag structure[span_1](start_span)[span_1](end_span).
A clean breakout above the descending wedge resistance line confirms the upside move, opening target one at $86,700 and target two at $88,000[span_2](start_span)[span_2](end_span). Holding above local support near $84,500 maintains the bullish thesis, while a breakdown below invalidates the setup[span_3](start_span)[span_3](end_span).
Don't short into falling wedge support—wait for price expansion to confirm the next leg higher.
#BTC #Bitcoin #CryptoAnalysis #TechnicalAnalysis #Trading
