Analyst: Bitcoin forms a descending wedge on the daily timeframe, market more likely to enter a consolidation phase

Odaily News: Analyst Killa stated on the X platform that Bitcoin is forming a descending wedge on the daily timeframe, and their plan remains unchanged, with expectations that the market will maintain range-bound consolidation. Even if the price breaks through this pattern, caution is needed regarding potential fakeouts, as the current market has not yet experienced a sufficiently long period of range-bound consolidation. The market spends approximately 80% of its time in range-bound consolidation and 20% in trending moves or pullbacks. Given that the market has already experienced a significant upward move, it is more likely entering a consolidation phase, so do not chase rallies. Unless market action proves otherwise, one should expect the market to remain in range-bound consolidation.