Beware of Bitcoin’s ‘Rising Wedge,’ Chart Analyst Says

A rising wedge pattern comprises upward-sloping trendlines that connect highs and lows and converge toward a single point known as the apex. The converging nature of trendlines indicates a steady weakening of bullish momentum. Thus, an eventual wedge breakdown, or the move below the trendline connecting lows, represents a bearish development, paving the way for deeper price losses.