BTC breaks channel into a forming wedge

Bitcoin broke out of the upward channel it has been in for some time (green dashed lines), but managed to find support at 54K. Now it appears that a wedge is forming around 54K (red lines).

It looks like 54K is holding as some solid support so far, so it should be interesting to see if this wedge continues for the next few days or if support will break below 54K. From what I have seen on so many other ALTs, it would be nice to see a rise to around 57K and then either a breakout there or more likely a dip back to 54K. If support then were to hold, it would be rather harmonic for most other cryptocurrencies. The tricky part then would be which way the wedge would break. Although a break upwards is possible, there is about as equally likely a possibility that a break downward could occur as well (with other cryptocurrencies harmonically breaking up or down as well). Either way, support at the current levels around 54K would have to hold for any of these scenarios to occur, so it should be interesting to see what happens for the rest of today.