The current price structure of Bitcoin (BTC/USD) on the weekly chart clearly shows the formation of a long-term Rising Wedge. This pattern, occurring after an extensive rally, is classically interpreted as a strong Bearish Reversal signal. The primary forecast suggests an initial, final thrust to test the upper boundary of the wedge (the red arc), potentially culminating in a bull trap or short-lived peak in the $150,000 to $160,000 range. Following this exhaustion, the dominant scenario involves a decisive breakdown below the lower support trendline, triggering a significant and prolonged corrective phase with a bearish target likely set around $78,000 or lower. This analysis signals the anticipated end of the current bull cycle and the commencement of a new accumulation phase over the longer term.
