Bitcoin Wedge Pattern Presents Short-Term Bearish Signal Amid Long-Term Bullish Trend

From a technical perspective, the chart formation suggests a rising wedge pattern that is typically viewed as bearish during a correction or retreat. This pattern indicates a potential weakening of buying momentum and a likelihood of breakdown. Nevertheless, since the overarching weekly and monthly trends maintain their bullish stance, any such breakdown might merely be a temporary pullback, setting the stage for a return to the main uptrend once liquidity is gathered. Consequently, this wedge should be regarded as a local pattern rather than a full trend reversal. A breakout downwards could present a favorable opportunity to re-enter long positions, leveraging the higher timeframe bias.