Bitcoin at a Crucial Decision Point – Rejection at Resistance, Holding Demand Zone
Bitcoin just got rejected at the resistance trendline of a descending triangle and is now bouncing off a key horizontal demand zone. It’s crunch time.
The Ichimoku Cloud is showing some solid support underneath, but the 50MA is acting like a ceiling right above the price.
If we can break above both the 50MA and that descending trendline, it could open the doors for a solid upward move. Bulls just need that confirmation breakout.
On the flip side, if BTC breaks down below the triangle support, things could get ugly real quick. Keep a close eye on the price action — we’re at a major inflection point.
What’s everyone’s play here? Bullish breakout or bearish dump?
