Bitcoin falling wedge on daily timeframe

20. Feb. 2020

After a bullish breakout which started around December 18th 2019, Bitcoin started a new uptrend back up to the 5 figure region eventually testing 10500k before a pullback to support in the high 9k range. We have since seen a violent drop with wicks to 9200k in the space of 15 minute timeframes and have now had a slight change in market structure with the first lower high since early January, a daily candle opening below the 21EMA and also the beginnings of a falling wedge pattern on the daily forming, a potential breakout before or on the 618 fib level could occur, keep your eyes on this.