Hot CPI Confirms BTC’s Wedge Breakdown — $75K Next?

As we noted a week ago (see here and here), Bitcoin (BTC) had a bearish breakout from Rising Wedge and there were signs of a correction coming to broader crypto markets.

Today’s hot CPI (inflation) data for September seems to further confirm that bearish sentiment.

CPI printed hot — Sept CPI +3.7% y/y (vs. 3.6% expected). BTC round-tripped from a brief run at ~$84K down to $81,933 (now clearly through the $83K support, confirming the Rising Wedge breakdown — next stop $75K).

ETH is at $2,426, testing $2,400 support. Gold and silver are selling off too ($4,100 and $56), so this reads as a hawkish-Fed repricing, not a flight-to-safety trade.

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 (see tutorial). 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.

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altFINS flagged a Rising Wedge breakout on MNT (Mantle) on Oct 6th. Price is down -15% since then:

We’ve added a few other Bearish breakouts to our HOT list of expert trade setups, which can hedge the risk in a portfolio of Long (buy) positions:

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