Falling Wedge In Play

Looking at the daily, it appears a falling wedge pattern is in play meaning a trend reversal is possible. The MACD and RSI shows decreasing volume of the selling so a possible bullish break out is possible putting BTC price back to 5000s. The overall sentiment is still bearish and could still break lower but I would keep a close eye to see any movements towards the upper (Solid Red) trend line. Of course, any more down in price action would invalidate this pattern, but we will have to wait and see.

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