/biz/ - Business & Finance

So if it breaks through the floor of the small wedge, then likely BTC will dump back down into the huge rising wedge.

>>56873328
<--- the huge Rising Wedge. This is the 1W timeframe.

This >>56873328 is the 1D timeframe.

>>56872846
<-- The huge Rising Wedge.

> "If the market keeps BTC at the top of the wedge for a while longer, then eventually the price will be at 40k. It's that simple."
That's a quote from the OP here >>56831656 who posted about this "rising wedge" thing. HOW DID HE KNOW????? I thought TA was bullshit??? Huh?

and someone >>56843801 posted this:
> "Many people are shocked and confused by the price rising. We're seeing that right now. It's inevitable the price goes up when it's hugging the top of a rising wedge."

what the fuck? how could they know?

>>56852725
See: >>/biz/thread/S56831656
> If the market keeps BTC at the top of the wedge for a while longer, then eventually the price will be at 40k. It's that simple.

Picrel is the current market situation of Bitcoin. This is the environment the market is operating in. This is the structure the market has built; the structure the whales are trading in. It's a massive Rising Wedge, which begins in July-Nov of 2022. Since Nov 9th 2023 the market has been testing the top of this Rising Wedge a bunch of times (this is why the price has appeared to crab at 36k-39k), and BTC hit 39k now because the Rising Wedge is – as you can see – angled upwards; it rises, so as the price rides along the roof of the wedge the price naturally gets higher. No mystery. Earlier 39k didn't happen as the wedge roof was lower. If the market keeps BTC at the top of the wedge for a while longer, then eventually the price will be at 40k. It's that simple. Of course the price won't continue like that forever; the market isn't going to trade BTC at the top of the wedge forever; it will either break through the roof of the wedge or dump down to the floor and break under the floor. Of course the market structure known as a Rising Wedge is inherently bearish. The vast majority of the time when the price breaks out above one, then it turns out to be a fakeout (a form of bull trap) and the price dumps back into the wedge. The price almost always breaks downwards, through the floor.

The exact opposite of this market structure, the opposite of a Rising Wedge, is known as a Falling Wedge – that is inherently bullish. The vast majority of the time the result of a Falling Wedge is the price breaks upwards through the roof. And in the rare cases where it breaks downwards through the bottom, then it's a fakeout below the wedge (a bear trap) and it pumps back into the wedge. The Falling Wedge structure looks exactly the same as a Rising Wedge except it's flipped upside down.