We can see here a rising wedge & a descending channel on the 3HR TF for BTC/USD.
BTC has been moving sideways for a few days now and is at a critical stance to determine if we will follow the rising wedge or descending channel.
A break in channel resistance (white line) will lead us towards 35-36k area wedge resistance (orange line).
If we happen to break below the wedge support we can expect to continue down the channel towards 29 - 30k zone, which marks heavy demand. Once demand gets filled we can try to attempt to trend up again.
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BTC has been moving sideways for a few days now and is at a critical stance to determine if we will follow the rising wedge or descending channel.
A break in channel resistance (white line) will lead us towards 35-36k area wedge resistance (orange line).
If we happen to break below the wedge support we can expect to continue down the channel towards 29 - 30k zone, which marks heavy demand. Once demand gets filled we can try to attempt to trend up again.
If you found this helpful please click the like button <3.
