PANews|Sep 03, 2026 11:34
[Analyst: Bitcoin forming a descending wedge on the daily chart, market expected to remain in range-bound consolidation]
Analyst Killa stated in a post that Bitcoin is forming a descending wedge on the daily chart, and their plan remains unchanged, expecting the market to stay in range-bound consolidation. Even if this pattern is broken, caution is advised against potential false breakouts, as the market has not yet experienced a sufficiently long period of range-bound consolidation. Approximately 80% of the market's time is spent in range-bound consolidation, with 20% in trending movements or corrections. Given the market's previous strong rally, it is more likely to enter a range-bound consolidation phase now. Therefore, avoid blindly chasing upward momentum unless the market's movements prove otherwise; the market is expected to remain in range-bound consolidation.
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