Bitcoin is just balancing on the edge of a huge rising wedge. What's more, there's an inverted cup and handle formation in the middle of it, whose target is the $6.6k level.
In addition, it looks like 2023 will be one big bull trap. Rising wedges have it that almost always their lower edge is subject to a retest, followed by a proper (drastic) decline.
And finally, if my above prediction comes true, this could be the end of Bitcoin, as all these patterns will eventually form a huge head and shoulders formation.
Therefore, if you're a bull, you'd better think carefully about whether it's worth buying "this bottom."
This is not financial advice.
In addition, it looks like 2023 will be one big bull trap. Rising wedges have it that almost always their lower edge is subject to a retest, followed by a proper (drastic) decline.
And finally, if my above prediction comes true, this could be the end of Bitcoin, as all these patterns will eventually form a huge head and shoulders formation.
Therefore, if you're a bull, you'd better think carefully about whether it's worth buying "this bottom."
This is not financial advice.
