Bitcoin | Descending Broadening Wedge Consolidation Continues!!

17 août

Descending Broadening Wedge Consolidation Continues..!!


Bitcoin has been consolidating in a Descending Broadening Wedge pattern since March 2024.

Bitcoin is bouncing back nicely after the August 5th crash and is now heading towards the $69-70k resistance area.

Bitcoin bulls need to clear the $69-70k crucial resistance area to confirm the wedge upside breakout. Once the breakout is confirmed, I'm expecting a 20-25% bullish rally in Q4.

100k is programmed for this year.

Remember one thing: we are currently in the accumulation phase, just before the next massive bullish rally.

Let me make one thing clear: the damage is done, and Bitcoin has already bottomed out (Bitcoin will never go below 50k).

Markets will likely remain sideways for the next 2-3 weeks, and then we could see a massive bullish rally, possibly around mid-September.


What should we do now?

Back in August-September 2023, when Bitcoin was around $17-18k, I kept telling everyone to buy, and after that, it went up to 74k.

Now, I'm telling you again to accumulate. Bitcoin will likely surpass 150k this time.

Keep accumulating the dips and building your portfolio for the 2024-25 bull run.




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