Technical analysis by Beyoglu_Analyst about Symbol BTC on 5/20/2025

#Bitcoin is currently forming a rising wedge chart pattern — a formation typically considered bearish in technical analysis.Interestingly, BTC is surging strongly after retesting the lower support trendline of the wedge. While this momentum suggests a potential breakout to the upside, it's important to note that such breakouts from a rising wedge are rare, as the pattern generally signals a reversal or breakdown.That said, I firmly believe Bitcoin has the strength to reach around $114,000 in the near term. Once that level is tested, I’ll reassess the chart for its next major move.