BTC/USD Rising wedge or cup n handle? Which one plays out?

8 oct 2021

BTC has broken some major resistance levels over the last week. The slopping dotted trendline and key 52-53k range have both been broken and price is retesting that 53k level in an attempt to flip it into support. However, a potential macro rising wedge(usually bearish pattern)is continuing to rear its head as we find local resistance right at the top trendline of the pattern. A potential macro cup n handle pattern(usually bullish pattern)can also be seen in the price action. Which pattern.. if any.. do you think plays out? I would appreciate your insight and any sincere feedback as this is my first post. If you appreciate my analysis and would like to see more of my future work please hit the like button and subscribe. Thank you for your support and I wish health, wealth and prosperity to you and yours.