We’re seeing a clearly formed rising wedge on $BTC — a continuation pattern — with a target around 80K.

Rising Wedge in a Downtrend — Key Rules

▪️ Context: only valid when it forms after a decline.

▪️ Both trendlines slope upward, but the upper one rises more slowly → wedge narrows.

▪️ Volume decreases as price climbs.

▪️ The advance is weak and shallow — a “crawling” uptrend.

▪️ Breakouts occur downward most of the time, with volume expansion.

▪️ Target: the height of the wedge projected downward from the breakdown.

▪️ Strong confirmations: divergence + retest of the upper trendline.

We also have strong local resistance at 93,500. According to Thomas Bulkowski’s statistics:

Rising Wedge in a Downtrend — Performance

— Downward breakouts: ~72–78%

— Hitting the measured target: ~55–65%

— False breakouts to the upside: ~20–25%

A breakout above 93,500 would give a chance to invalidate the bearish structure and open the path toward 106K. For now, I’m maintaining a long-term bullish bias.