Alert for $BTC ! I discussed the falling wedge pattern yesterday. I stated, "We see a falling wedge pattern forming on the 30-minute chart." An upward break in this pattern indicates a bullish advance.Now that the market has reversed course and is rising, let's discuss the next scenario.
1. The formation of a falling wedge pattern indicates a bullish move in the market when the pattern is broken and the market moves higher.
2. However, we require two confirmations because the market is not always predictable.
3. The market will validate the bullish advance if it crosses the $61,980 – $62,380 price range, as I depict in the image. This might result in $66,820.
4. However, if the market dismisses this opposition and is unable to