BTCUSD is now in upward facing and narrowing channel (small purple dotted lines). It is approaching the top edge of a larger falling wedge pattern (purple dashed lines), and also bouncing along the underside of another medium-term uptrend (green-dashed line).
This is a convergence of competing trends.
A successful breakout above that wedge pattern points to...
BTCUSD may retest important support before retracement, retesting upper limit of wedge and continuation of longer term uptrend. Breakout below current falling wedge pattern would confirm longer term downtrend.
BTCUSD is testing restistance, above which it will break out of a falling wedge pattern.
It has just broken out of a rising trend channel also, so expect some sideways movement and possibly slight correction here before any breakout.
Expect BTC to consolidate further in this range before pushing through downtrend line above, which has capped upward movement in trend channel.
Some slight retracement possible but major uptrend seen continuing in coming week.