Bitcoin has had a minor correction today after hitting highs of 11700 today. 11700 was and still is an important wall to break, as it has acted as resistance multiple times throughout these past month.
Since we are at 10800, I am expecting one of the three different scenarios for Bitcoin to undergo.
Coincidentally the price is sitting on both EMAs on the 4-Hour, it would be ideal if the price bounced off them, completing the ascending triangle formation.
The price develops support at the upper trendline around the 10000 psychological mark, and bounces.
The price develops support at 9329, a known support level, and bounces off of that level just like it has recently.
If any of these take place, I will still be bullish on Bitcoin's price action. In contrast, a breakdown from the 9329 mark would make this a rising wedge play in my opinion, and the inverted head and shoulders pattern would be invalidated. There is a low chance of this situation occurring though.
Disclaimer: (I am not a financial advisor, do your own due diligence when investing in cryptocurrencies. This is just my speculative opinion.)