Bitcoin’s recent price surge has captivated the crypto community, but beneath the surface lies a deceptive pattern that could spell trouble for bulls. The rising wedge formation, highlighted by crypto analyst Merlijn The Trader, is a classic example of a deceptive technical setup. This pattern, which has been building since February, is a warning sign that Bitcoin’s uptrend may be entering a critical compression phase. The rising wedge is a bearish signal, indicating that the market is in a state of consolidation before a potential downward trend. As Bitcoin approaches the upper boundary of the wedge, around $84,000, bulls face (Read more…)
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