Bitcoin is slowly making its way back to our 4H trendline… 👀

After seeing a rejection just a few days ago from the 4H trendline we’ve been watching closely, price has once again started pushing higher, showing strong short term bullish momentum.

The nice part about seeing trendline rejections repeatedly, is that the more price retests them, the higher the rejection level tends to move. A few days ago, Bitcoin was rejected around $94.5k from the trendline, but that potential new rejection zone has now shifted higher to roughly $97k–$98k.

Looking at the even shorter term price action, you could argue that Bitcoin is forming a rising wedge pattern, which would further support the possibility of a rejection near that same $97k level.

Regardless, I think over the next day or two we could see a solid rally up toward the top of the trendline/rising wedge. From there, we’ll see whether price gets rejected or finally breaks through… Keep a close eye on these charts…