Bitcoin Consolidating in Bearish 'Rising Wedge' Pattern

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The appearance of a 'rising wedge' on technical charts often has traders preparing for a fresh price drop. But sometimes these patterns can become a self-fulfilling prophecy. Chart of the Day explains, presented by cryptocom:

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Bitcoin has gained 36% in two months, offering relief to the battered bulls.

However, according to Crypto Twitter, the recovery has suddenly drawn the shape of a “rising wedge,” or a bearish pattern, on price charts and could be short-lived. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

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