Hello guys!
Bitcoin is consolidating in a symmetrical triangle pattern near a key resistance zone after a strong uptrend within the ascending channel. The price is trading just below the triangle’s top line, indicating a potential breakout or breakdown setup.
✔ Key Scenarios:
👀 Scenario 1 – Bullish Breakout:
👀 Scenario 2 – Temporary Pullback (Triangle Breakdown):
Conclusion:
Bitcoin is moving in a tightening range. A breakout from the triangle will dictate the next move. For clearer direction, traders should watch for a decisive move above or below the triangle structure.
Bitcoin is consolidating in a symmetrical triangle pattern near a key resistance zone after a strong uptrend within the ascending channel. The price is trading just below the triangle’s top line, indicating a potential breakout or breakdown setup.
✔ Key Scenarios:
👀 Scenario 1 – Bullish Breakout:
- If BTC breaks above the top of the triangle, we could see a sharp move upward toward the $106K resistance zone and potentially higher.
- This would signal trend continuation and strength in the bullish momentum.
👀 Scenario 2 – Temporary Pullback (Triangle Breakdown):
- If BTC breaks the bottom of the triangle, the price might fall toward the $99,715 support level.
- This zone is also aligned with a previous consolidation and could serve as a strong demand area.
- A bullish reversal from this area is likely, providing another long opportunity targeting the same $106K resistance.
Conclusion:
Bitcoin is moving in a tightening range. A breakout from the triangle will dictate the next move. For clearer direction, traders should watch for a decisive move above or below the triangle structure.
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The triangle is broken from the top line!Proud ThinkMarkets Ambassador -> Discover & Grow: bit.ly/Think-Markets
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My recommended Exchange -> YEX: bit.ly/YEX-M
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Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
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My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Proud ThinkMarkets Ambassador -> Discover & Grow: bit.ly/Think-Markets
------
My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
------
My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.