$BTC Monthly Chart Breakdown — Macro View Bitcoin is currently trading around $117,000, and the macro structure is flashing caution despite the recent strength. On the higher timeframe, Bitcoin appears to be forming a rising wedge, a pattern often associated with potential trend reversals or deeper corrections. 🔍 Key Observations: Rising Wedge Formation: BTC is trading inside a rising wedge pattern — characterized by higher highs and higher lows converging toward a resistance zone. Historically, this pattern often leads to a breakdown after a strong run-up. Stiff Resistance Ahead: BTC is nearing the wedge’s upper boundary, where previous rejections occurred. A clean breakout could invalidate the wedge, but caution is warranted. Stochastic RSI: Momentum on the monthly stochastic RSI is curling upward, signaling bullish energy — however, it's approaching overbought territory. If it crosses back down, it could signal macro weakness.
