The recent fall in #BTC / $BTC was indeed well predicted. The reason for this dump was BTC moving within a rising wedge pattern under the 4H timeframe. A rising wedge is a bearish pattern, especially on breakdown.
As shown in the chart below, BTC was hovering around 67k and facing multiple rejections, indicating a breakdown from the current rising wedge structure.
Key support levels were identified at:
- S1: 64500
- S2: 62900
- S3: 61700
Although we observed a potential trend reversal around 62900, upward trend confirmation requires the formation of more candles.
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