The price of BTC has been trending up in broadening wedge. Price is currently at the resistance of the wedge which is also in confluence with a resistance on the weekly chart.
Inside the broadening wedge, price has broken to the upside of a rising channel - normally indicating bullish, but further upside is currently limited by the the resistance confluence.
If the resistance confluence holds and price comes back in the rising channel and breaks down. It will make the bearish broadening wedge somewhat valid and may eventually lead to price falling back to the 15K plus region
Inside the broadening wedge, price has broken to the upside of a rising channel - normally indicating bullish, but further upside is currently limited by the the resistance confluence.
If the resistance confluence holds and price comes back in the rising channel and breaks down. It will make the bearish broadening wedge somewhat valid and may eventually lead to price falling back to the 15K plus region