@cpthunter

BTC is facing a critical test as the price has now touched the lower boundary of the entire uptrend's rising wedge pattern. Additionally, a potential small consolidation box has formed on the 1h timeframe, which, aside from the slightly short duration of the consolidation, can be seen as a key structure in determining whether this bullish trend will end. In the short term, this small consolidation box is currently being supported by the uptrend line, but I do not favor using trend lines with a steep slope as a basis for trading. Therefore, I still recommend using the upper and lower boundaries of the 1h consolidation box as key price levels to watch for a breakout before making trades. It is important to note that the possibility of a false breakout or false breakdown at the upper and lower boundaries of the 1h box exists. Without seeing a confirmed breakout or breakdown on the 1h chart, the risk of chasing shorts or longs is still quite high.

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