Technical analysis by stephen0215 about Symbol BTC: Sell recommendation (3/13/2024)

As the pattern outlined on the chart, I assume the ascending wedge signals the potential to reverse to the target price of around 62k. However, it's not the end of the world. I would rather see it as an opportunity to re-enter the long position.Keep an eye on the altcoins of your choice. They would show strong movement over the second-half bull run.As the prices for BTC/ETH go higher, the profit we can yield from the price we re-enter is limited. At this point, I will switch to altcoins for high ROIs.The market sell-off is causing tension, but it's best to wait and see how the next daily candles play out before re-entering.The bull is forming the inverse H & S pattern, which indicates a potential entry point.Good luck with trading.