Technical analysis by MoriartyTrading about Symbol BTC on 3/15/2025

What’s visible on the BTCUSDT.P chart:📈 Rising Wedge:➡️ This is a potentially bearish pattern for BTCUSDT.P , especially when it appears after a strong rally following a deep drop (which is exactly the case here).➡️ The price has almost reached the upper boundary of the wedge and has already formed a second top (Top 2) — a signal of possible weakness.🔵 Levels:➡️ POC BTCUSDT.P — $82,490.8 has already been broken to the upside, indicating current market strength.➡️ The price is approaching major resistance at $83,807.1 — momentum is already slowing down in this zone.➡️ Support remains in the $80,449.7 – $78,412.7 area.📊 Volume:➡️ The rally was supported by high volume, but the most recent candles show declining volume as the price nears the top of the wedge.➡️ This could indicate weakening buying pressure.📉 Why it’s important to be cautious with long positions:➡️ A rising wedge can act as a bull trap.➡️ The price is near a critical resistance — even a small pullback could lead to a wedge breakdown.➡️ After such a steep run (from 73K to almost 84K), the chance of profit-taking and a pullback is high.➡️ Volume is declining — bullish momentum may be fading.📢 Conclusion:➡️ Opening a BTCUSDT.P long position right now is risky because:- the wedge structure suggests a potential reversal to the downside;- there’s no breakout above the previous high with confirmation;- and volume does not support further upward movement.❗️ It's better to watch how the price reacts to the wedge and BTCUSDT.P key levels — a long entry is only valid if the price breaks and holds above $83,800–84,000 with strong volume.➡️ Until then, a neutral or cautiously bearish position is more appropriate.