Technical analysis by RocketMike111 about Symbol BTC on 12/8/2024

Bitcoin has indeed broken out of the ascending wedge as we had analyzed; however, I’m quite concerned about the very prominent indecision candle that formed during the breakout. This has me a bit worried. If we look at the last two days, they’ve also been indecisive candles. This doesn’t necessarily mean that a Bitcoin correction is imminent, but if the price starts losing momentum after several days of sideways movement with wick-heavy candles, it doesn’t paint a very positive picture for the days ahead. Anything can happen—Bitcoin’s volatility is very high, and the crypto market is currently very bullish. For now, it’s just a matter of waiting to see Bitcoin’s next move and how it reacts. Best regards!