This Technical Formation Suggests Bitcoin Could Undergo a Violent Surge

Bitcoin (BTC) has been caught within a bout of turbulent price action over the past several days and weeks, which is elucidated while looking at the wide trading range between $8,300 and $9,200 that it has been trading within for the past week.
Although the sharp rejection at $9,200 last week did do some damage to the bullish market structure that has developed over the past several weeks, analysts are pointing to a falling wedge as a potential catalyst for a violent surge back to its local high