TraderEye Market View: Traders are waiting for a significant move in Bitcoin

Sunday, August 11, 2024

Traders are waiting for a significant move in Bitcoin

After a long period when the price of Bitcoin moved in a narrow range of prices, traders are waiting for a significant move in Bitcoin. A technical pattern of correction in the structure of a wedge can be a significant energetic basis for ending the shuffling period and embarking on a significant upward move. In order for us to embark on a significant upward move, the pattern will first have to break the pattern upwards strongly.

Attached is a daily graph showing the five waves of the wedge pattern arranged in a precise mathematical manner, with wave 5 overshooting downwards, as is customary in this type of pattern.

:Attached is a theoretical structure of an expanding wedge technical pattern

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