BTCUSD Rising Wedge Possible Breakout and Pullback

20 feb 2021

BTCUSD seems unstoppable after breaking 50K price levels. The price is closer to 60K levels than we can think of. However, I think this rally needs a bit pullback for its health in order to step up to 60K and beyond. Pullback signals is coming right now. I analyzed where a possible pullback could bring us back. I think there are second price target which BTCUSD can stop by. I do not think BTC will go down below those price targets. I expect BTC to bounce off from the first price target which is very likely and bullish scenario. Here are the targets.

20 feb 2021

Nota

Price has been rejected by support of rising wedge. So far so good

20 feb 2021

Nota

Price has broken the rising wedge downwardly, but volume coming in is not that big and breakout has not been confirmed yet

20 feb 2021

Nota

Price seems to return from exactly fibonacci 0.236 as I predicted