Bitcoin Technical Analysis: Price Exits Wedge…NOW WHAT?

Bitcoin rose out of the wedge it had been consolidating in over the past month. It’s now hitting resistance at $3,900.

Just prior to the decisive break out, market makers ran a stop hunt that pushed price up to $3,905 and back down to $3,775 before returning to baseline. This happened in under 30 mins.

As price has been on a slow uptick, shorts have been stacking.

Looking at the daily chart, we can see the Bollinger bands are starting to bottleneck.

In today’s analysis I discuss, key areas to watch, traps to avoid and so much more. I hope you find it helpful.

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About the author: Workin 2005

Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom