Bitcoin Ready to Explode?

Bitcoin completed another set of impulse waves up and has already completed it's ABC correction. The correction took form in the shape of an extremely bullish pattern: the falling wedge (blue). Usually, prices explode violently out of these patterns, whether it's cryptos, stocks, or forex.

However, we also see Bitcoin hovering over a major resistance trend line (red). Bitcoin could have an extended correction in the shape of a WXY. But until the impulse fails, or unless Bitcoin breaks out of the wedge with no volume, I would have to assume the bullish scenario.

An extremely bearish scenario that I what to discuss is the possible head and shoulders pattern. If the price breaks below the falling wedge, we could see the price plummet to sub-9.5k levels. Nonetheless, until the price breaks below the neckline, I would not assume this pattern is in play.

Entry: 10.4k
Stop: 9.9k
Target: 12k
Time frame: Up to 1 week