$BTC

ascending triangle pattern, which is a continuation bullish pattern. This pattern is characterized by a lower trend line sloping upwards and a horizontal upper trend line acting as resistance level.

An ascending triangle typically indicates a potential breakout in the direction of the ongoing trend—in the case of Bitcoin, that is an upward trend.

This means that if Bitcoin manages to break through the current resistance level, its price could experience a significant increase.

This ascending triangle pattern began to form after Bitcoin's ATH in 2021 and continued with the next highest price achievement at $69,000 on November 1, 2021.

After that, the price experienced a correction, touching the lower trend line around $15,500 and holding there.

Recently, Bitcoin reached a new ATH above $112,000, but has not yet managed to break through the upper resistance line.

If Bitcoin successfully breaks through that resistance and moves towards the historical ATH upward trend line, analysts project the potential for reaching a new all-time high.