Trader Killa says BTC may stay range-bound, warns of possible fakeout on wedge breakout

BTC is forming a falling wedge on the daily chart and is likely to remain range-bound for some time, crypto trader Killa said on X. Killa added that markets typically spend about 80% of the time moving sideways and 20% in either an uptrend or a correction, and said BTC may need to spend more time in that consolidation phase after its recent gain. Even if the falling wedge breaks to the upside, Killa said there is a high chance of a fakeout, with price returning to its previous range.