BTC - All Developments (Bullish Outlook)Bitcoin / TetherUSBINANCE:BTCUSDTVIAQUANTHere I will outline the most likely path for BTC given a bullish bias. There is still a lot of uncertainty surrounding the ceasefire and tomorrow's CPI release, but I want to lay out the bullish scenario so we can be prepared if that is the direction the market decides to take. For reference, here was my last idea on the rising wedge: The Reclaim Since the ceasefire headlines, BTC has reclaimed the main rising wedge pattern I have been tracking (solid green trendlines). As shown in my last idea, price was repeatedly getting rejected from the lower green trendline (red arrows). Once ceasefire discussions emerged and a deal was reached, price broke back above the pattern, negating the original rising wedge breakdown thesis. What happened next is structurally significant. After breaking back above, price declined to retest the green trendline as new support and so far buyers have respected that level, treating old resistance as new support and attempting to push price higher. The Upside Targets If price can hold above the lower green trendline, the upper solid green trendline becomes the primary level to watch for sellers to re-enter the market. The exact price at which that level is reached depends on timing. Both trendlines converge around April 17th at approximately $77,400 which would be an ideal confluence point where the upper rising wedge resistance and the primary red resistance trendline could both be respected simultaneously. However, a wick to the upside anywhere between $79,000 and $80,800 remains possible. It is unlikely at this point that BTC will form its next macro lower high above $80,800. Those wick targets are derived from the Fibonacci levels outlined in this post: Notably, price has already perfectly respected the "First Target" from that idea, making a move into the "Second Target" range is a logical next step. The Larger Rising Wedge One additional structural note worth pointing out is this price action could actually be forming a larger rising wedge. The upper solid green trendline would remain the top of the new wedge, but instead of the current lower solid green trendline serving as the bottom, it would now be the dotted green trendline defining the new, larger rising wedge structure. Only time will tell, but it is worth keeping on the radar. The Key Catalyst: CPI Tomorrow CPI releases tomorrow and will likely be the deciding factor in whether this rally continues toward the upper targets or gets rejected and becomes a fakeout before a continuation lower. CPI is likely to come in hot given everything that has been unfolding in the Middle East. Normally this would be a very bearish catalyst for the market, but since a hot print is already widely anticipated, if the number comes in less hot than expected, in my opinion that could actually serve as the bullish catalyst needed to fulfill this idea.