BTC massive contracting wedge
BTC has been ranging within a contracting wedge for 2 months now having corrected into the weekly demand zone and broken out of the downtrend, closing the CME gap showing a high volume bottom with 2 rejection wicks showing buyer intension. Price has started to respect daily demand chain and putting in higher lows. Price mitigated the weekly supply zone and failed to put in a new low so think it will look to take out the zone and start a new uptrend. Waiting for a break of either side to confirm, RSI also contracting in wedge showing a squeeze before a move to either side. Weekly MACD converging showing buyers coming into the market and momentum to the upside starting. Looking healthy overall here with stablecoin dominance decreasing and the coinciding of bullish looking charts across the market, i think a sustained move to the upside for the market is nearing.
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