$BTC

Bitcoin is currently forming a rising wedge pattern, which is usually a bearish signal once price breaks down.
Lets break it down for you to understand if your new on trading
A rising wedge is a pattern where price is going up, but the movement is getting smaller and tighter.
Price makes higher highs and higher lows
But the move is getting weaker (range is narrowing)
This usually means buyers are getting weak
👉 Simple idea:
Buyers are getting tired → sellers may take control → possible drop
As you can see in the photo, price is showing a potential revisit at the 50k level (50,858 to be exact).
If ever price breaks the trendline and also breaks the recent low, then this confirms that price is attempting to move down and revisit the 50k zone.
‍#NFA #DYOR #TAYOR