$BTC The price action on BITCOIN is monotonous.. Zzzz

I have been watching this broadening descending wedge on the daily timeframe.

BTC is struggling at this trend resistance and looks weaker in comparison to the S&P 500 ( SPY SPX ) a daily candle close above would be ideal for further bullish price action.

I believe the probability of it touching the lower trend of the wedge is getting higher as we lose momentum. A bounce from the lower trend is possible for upside continuation BUT if the body of the candle closes below the trend-line of the descending wedge, that would invalidate the bullish structure and could possibly go lower printing another lower low on Bitcoin chart before year end.

There is also a high possibility of a double bottom as the rsi levels are nearly oversold as is.

Only time will tell..