BTC short term bearish?

22 apr 2024

The falling wedge from the previous update has been playing out but at a weak pace. It's been taking longer than anticipated. The sell off we got right before the breakout took a lot of steam from the move and made 25.k a difficult level to beat. We've gotten pretty close to the low end of the target(67.7k) now but we seem to be making a new consolidation on the way up. It looks like a rising wedge on declining volume. It can take us to 63k before forming a new consolidation. If this breaks UP, we will hit the 69k level but for now I'm leaning towards a pull back.