BTC bearish breakout confirmed

As we noted in yesterday’s newsletter (see here), there were signs of a correction coming for crypto markets.

Today, Bitcoin (BTC) broke out of a Rising Wedge, below $83K support, which signals a correction in the long-term Uptrend. Price could revisit $75K support next.

In cryptocurrency markets, recognizing exactly when a uptrend is losing steam is one of the most critical skills you can develop. It allows you to protect your capital from sudden market turnarounds and profit from lucrative short-selling opportunities.

Two of the most reliable chart patterns that signal an impending trend reversal are the Rising Wedge and the Channel Up. While both patterns appear bullish initially as prices climb within the structures, they represent a gradual exhaustion of buyers. When the price breaks cleanly below the lower support line, it confirms a bearish breakout, shifting control firmly over to the sellers.

Tracking these patterns across hundreds of digital assets manually is next to impossible. That is where the altFINS Automated Chart Pattern Recognition Engine comes in (see here). By scanning the market 24/7, altFINS automatically detects structural breakdowns in real-time, helping you catch high-probability shorting opportunities or avoid devastating losses from holding onto assets that are about to reverse.

Yesterday, the altFINS engine identified a clean Rising Wedge breakout on MNT (Mantle). Today, MNT is down -4.95% so far and there’s another 8.28% potential downside:

Traders utilizing altFINS were alerted early to exit long positions or initiate short positions, successfully capturing the -4.95% move as the price declined towards the automated target range.

Note that the empty candles represent price action after the Sell signal was generated but today’s price action is not reflected in the chart yet.