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.
Trade at your own Risk 👍
Best Regards, Trade Cryptocurrency
Stay Tuned for Further Updates.
