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Broadening wedge or bull flag? Either way, Bitcoin appears to be losing momentum

Traders, whales, and ETFs are buying each major dip, but Bitcoin continues to lose momentum, calling the duration of the current bull market into question.

Bitcoin’s market structure on the weekly timeframe shows what some analysts have described as a bull flag or broadening wedge pattern, which if completed would send BTC to new all-time highs. 

Even with the chart pattern holding form throughout the current price whipsaws, Bitcoin continues to sell off at overhead resistance levels and it remains susceptible to macroeconomic developments. 

BTC/USDT weekly chart. Source: TradingView

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Traders, whales, and ETFs are buying each major dip, but Bitcoin continues to lose momentum, calling the duration of the current bull market into question.
Bitcoin’s market structure on the weekly timeframe shows what some analysts have described as a bull flag or broadening wedge pattern, which if completed would send BTC to new all-time highs. Even with the chart pattern holding form throughout the current price whipsaws, Bitcoin continues to sell off at overhead resistance levels and it remains susceptible to macroeconomic developments. BTC/USDT weekly chart. Source: TradingViewRead more  

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