Technical analysis by TheMeditrader about Symbol BTC: Buy recommendation (2/20/2023)

BTCUSDAfter the bears' strong attempt to take prices down, the bulls have regained control and an ascending wedge is being formed, suggesting higher prices in the form of a second leg up in the near future.It's possible that we see the bottom trend line (dotted) be valid, which would extend the range for a longer period of time, but I think the next breakout upwards will likely happen within this week.My suggestion would be to set a pending order with appropriate risk management and to let the trade play out.The Prophet of Profits,The MeditraderI am giving my SL a little more room, expecting a possible liquidity probe before the move up. We have a nice trend line formed on the hourly which is setting up for a potential breakout and therefore the move up.