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A Falling Wedge pattern has formed on the 4-hour and daily frames, and this is not just a bearish pattern but a bullish reversal pattern.
This means that the overall trend is upward, but on the smaller time frames, there is a correction in the form of a descending wedge. A break of 106,000 means heading to the Demand Zone at 102,000 dollars.
By the way, this pattern is positive because it may not simply drop to 102,000 and could rise to create a new peak if Bitcoin closes at $BTC for an hour twice at 108,340 dollars.
❄️ Suggestion: If you are in the market, it would be better to set a stop loss at 100,180 "instant stop"
If you are out of the market, I suggest waiting for the correction, and if you want to enter, the stop loss should be at 106,500 "close for an hour twice"
A Falling Wedge pattern has formed on the 4-hour and daily frames, and this is not just a bearish pattern but a bullish reversal pattern.
This means that the overall trend is upward, but on the smaller time frames, there is a correction in the form of a descending wedge. A break of 106,000 means heading to the Demand Zone at 102,000 dollars.
By the way, this pattern is positive because it may not simply drop to 102,000 and could rise to create a new peak if Bitcoin closes at $BTC for an hour twice at 108,340 dollars.
❄️ Suggestion: If you are in the market, it would be better to set a stop loss at 100,180 "instant stop"
If you are out of the market, I suggest waiting for the correction, and if you want to enter, the stop loss should be at 106,500 "close for an hour twice"