Technical analysis of bitcoin key levels and wedge chart pattern

1. Trend Structure

• The descending trendline (Resistance line) at the top of the chart remains valid.
  
• The price has repeatedly faced rejection at this level, indicating that the medium-term downtrend is still intact.
  

2. Key Price Levels and Indicators

• 50-week EMA
  The price has recently recorded its third downward break below the 50-week EMA.
  From a traditional technical perspective, this is viewed as a signal that strengthens the possibility of a medium- to long-term bearish shift.
  
• POC (Point of Control)
  The mid-range POC is acting as a strong supply zone,
  and recent rebound attempts have also failed to break above this level decisively.
  

3. Liquidity Zones

• Two major liquidity zones are marked in the upper and mid sections of the chart.
  
  Liquidity zone near 112k (upper zone)
  
• A cluster of large liquidity pockets and liquidation points
  
• If a short-term rebound occurs, this is the first upside target likely to be tested
  
  Liquidity zone near 102k (mid zone)
  
• Overlaps with the 4h FVG, making it a level closely watched by both buyers and sellers
  

4. FVG (Fair Value Gap)

• Multiple FVGs are present on the 4-hour timeframe, with some already filled.
  
• Unfilled FVGs have a high probability of being revisited as the market corrects in the future.
  

5. CME Gap

• All weekday CME gaps have already been filled and may act as short-term resistance.
  
• A weekend gap forms when Monday’s CME opening price starts above 95.4K.
  

6. Current Market Structure Interpretation

• The price is currently attempting a rebound from the lower boundary of the downtrend.
  
• However, several resistance layers overlap—POC, FVG zones, and trendline resistance—raising the likelihood of heavy selling pressure on any upward move.
  
• In the short term, volatility consolidation is expected within the 96k–100k range.
  

7. Potential Formation of a Lower Wedge Pattern

• The price has broken below the lower boundary of the wedge pattern, accompanied by rising volume.
  
• A short-term rebound is likely, and if the price re-enters the wedge, further upside momentum may follow.
  
• If the lower trendline is not reclaimed, the structure may shift into a range after a retest.
  

8. USDT.D Chart Analysis

• The price has once again touched the upper boundary of a downtrend line that has persisted for over a year.
  
• Downward pressure on the USDT dominance chart suggests potential upward momentum for Bitcoin.
  
• Technically, this zone offers conditions supportive of a short-term rebound.
  

9. Summary

• The medium-term trend remains bearish, with the ongoing breakdown below the 50-week EMA reinforcing a sustained bearish outlook.
  
• A short-term bottoming attempt is visible, but dense supply overhead limits the strength of any rebound.
  
• FVGs, POC, and liquidity zones overlap near the current price region, increasing the probability of heightened volatility.
  

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