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Bitcoin Poised For Next Big Move? BTC Still Trading Inside A Key Chart Pattern

This year has been remarkably rough for Bitcoin and the broader crypto market, driven by unfavorable macroeconomic and political conditions. Even though BTC hit a new all-time high of $109,000 earlier this year, the flagship asset has been under robust bearish pressure, causing a drop to about $76,000. However, BTC has started to gain upward movements, which analysts believe could be a part of a bigger uptrend.

Next Major Move To Be Determined By Chart Pattern

As Bitcoin demonstrates upside momentum following its recovery above $87,000 again, a persistent trend has been identified in its current price action. Captain Faibik, a seasoned crypto analyst and trader has revealed that BTC’s price dynamics center around a key chart pattern, particularly the Falling Wedge formation.

Bitcoin Poised For Next Big Move? BTC Still Trading Inside A Key Chart Pattern

This year has been remarkably rough for Bitcoin and the broader crypto market, driven by unfavorable macroeconomic and political conditions. Even though BTC hit a new all-time high of $109,000 earlier this year, the flagship asset has been under robust bearish pressure, causing a drop to about $76,000. However, BTC has started to gain upward movements, which analysts believe could be a part of a bigger uptrend.

Next Major Move To Be Determined By Chart Pattern

As Bitcoin demonstrates upside momentum following its recovery above $87,000 again, a persistent trend has been identified in its current price action. Captain Faibik, a seasoned crypto analyst and trader has revealed that BTC’s price dynamics center around a key chart pattern, particularly the Falling Wedge formation.

https://bitcoinist.com/bitcoin-inside-a-key-chart-pattern/