Acceding Wedge BTC 3H - Price TargetsAscending wedge is typically a bearish reversal or continuation pattern.
Price is making higher lows but facing strong resistance around $95,500–$96,000.
Momentum (based on the Money Maker Indicator Baked by mr Pine) is diverging, suggesting weakening bullish strength.
Probability Breakdown
Breakdown: ~60–70% probability
Given the bearish divergence and volume stagnation, a downside move is more likely.
Breakout: ~30–40% probability
A squeeze and short liquidation could still push BTC through the top of the wedge, but needs strong volume confirmation.
Breakdown Targets
If BTC breaks below the wedge support (~$93,500 area):
1. Target 1: ~$91,500 – Previous local support.
2. Target 2: ~$89,000 – Measured move of wedge height.
3. Target 3 (max): ~$86,000 – Major support from the prior structure.
Breakout Targets
If BTC breaks above ~$95,800:
1. Target 1: ~$97,200 – Immediate resistance.
2. Target 2: ~$99,500 – Psychological and technical resistance.
3. Target 3 (max): ~$102,000 – Based on wedge height added to breakout point.
Volume & RSI/Momentum
Volume isn't confirming strength yet — needs a spike for valid breakout.
RSI/momentum indicators show bearish divergence, favoring breakdown.
