$BTC
Bitcoin Update – 1H Chart
Bitcoin is currently forming an ascending triangle pattern on the 1-hour chart a typically bullish formation, as shown in the reference example.
The key resistance level lies around $106,000.
A bullish breakout would require a clear candle close above this resistance zone. If confirmed, we can expect further upward momentum.
However, if Bitcoin fails to hold the lower trendline of the triangle and breaks down, this would invalidate the bullish setup and could lead to further downside movement.
It's important to note that the market is currently heavily influenced by fundamental factors, so relying solely on technical analysis may not be sufficient at this stage.