Bitcoin is trading above support with a triangle formation pointing to a likely move before the end of June
The Ichimoku Cloud is holding strong below the trendline adding momentum to the current chart structure
BTC needs a candle close above $106K to confirm breakout while breakdown may start a short-term correction
Bitcoin is consolidating inside a symmetrical triangle on the daily chart, trading near $104,872 while staying above key support levels. According to an update shared on June 19 by The Crypto Express, the BTC/USDT pair is currently holding above the triangle’s lower trendline. The Ichimoku Cloud is offering added support from below, suggesting that bullish momentum may still be intact. This setup places BTC in a critical zone, with the next breakout direction likely to shape the coming trend.
Source: X
Analysts are watching this price formation closely. The decision point for Bitcoin is approaching fast as the triangle compresses. The chart spans from late April to the third week of June and is nearing its apex, where price volatility typically returns.
Triangle Pattern Suggests Upcoming Volatility
The symmetrical triangle pattern on the daily timeframe reflects indecision between buyers and sellers. This formation is often seen before major directional moves. Bitcoin has bounced between narrowing support and resistance lines, steadily building pressure.
Price is currently hovering around $104,872. Support from the triangle’s lower bound has held firm, with each touch resulting in small rebounds. Resistance near $106,000 remains unbroken, forming the upper side of the triangle.
The Ichimoku Cloud sits below the triangle, acting as dynamic support. When price remains above this cloud, it often signals continued upward momentum. The green zone of the cloud further supports this view, showing underlying strength in the current structure.
A breakout above the triangle’s upper trendline could point to a continuation of the bullish trend. However, a breakdown below support would change the outlook. It may suggest the start of a corrective phase, pulling BTC toward lower support zones.
Market Awaits Confirmation of Direction
The triangle’s apex aligns with the end of June, narrowing the window for sideways movement. Traders anticipate a breakout before that point, based on previous volatility patterns in similar setups. The outcome may guide momentum for Bitcoin over the coming weeks.
The range between $104,000 and $106,000 has now become the decision zone. A candle close above the upper boundary may confirm bullish continuation. If price closes below the lower support trendline, it could spark short-term downside action.
The breakout direction often defines trend sentiment for larger timeframes. Volume spikes and follow-through moves are generally required to validate the signal. For now, Bitcoin continues to compress inside the triangle without committing to either side.
BTC’s daily chart remains technically neutral until confirmation arrives. The symmetrical triangle is one of the most closely monitored patterns in price action trading. Both sides remain cautious, awaiting confirmation.
Will Bitcoin Break Higher or Face Correction?
This narrowing setup prompts a crucial question—will Bitcoin break out from the triangle with bullish momentum, or fall into correction?
The Ichimoku Cloud continues to support the bullish case by holding price above its top boundary. The chart shows that each touch of the lower triangle trendline has triggered a short bounce. This suggests buyers are still active, although not yet aggressive enough for a breakout.
A decisive move above the triangle would confirm trend continuation toward higher resistance. Failing that, a drop below the triangle may lead to deeper retracement. Until then, the symmetrical formation controls the price range.
