Bitcoin’s (BTC) price has been hovering around the $28,500 mark since the beginning of May as investors showed caution ahead of the Federal Open Market Committee (FOMC) policy meeting on Wednesday, May 3.
With that being said, the crypto bear market may be coming to an end as Bitcoin forms a “super BULLISH pattern,” according to a popular Twitter chart pattern analyst Trader Tardigrade.
In his tweet on May 3, Trader Tardigrade shared a Bitcoin price chart showing that the cryptocurrency has formed a rising wedge pattern at the end of its recent downtrend. The rising wedge is a pattern used to identify potential trend reversals.
After forming the pattern, Bitcoin broke above the upper trendline and the horizontal resistance level, Trader Tardigrade noted.
At the end of downtrend, #Bitcoin forms a rising wedge and then breaks above the upper trendline🟠 as well as the horizontal resistance🟣. This is a super BULLISH pattern, indicating the bottom of Bear market has forme
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