Currently, Bitcoin is forming a symmetrical triangle consolidation pattern on the daily level, maintaining around $104,872, still oscillating above the lower support line of this structure. According to The Crypto Express's analysis released on June 19, BTC/USDT remains above the triangle's lower trend line and is also supported by the lower edge of the Ichimoku cloud, indicating that potential bullish strength is still at play. Overall, Bitcoin is at a critical breakout point, and subsequent movements may determine the mid-term trend direction.

The triangular consolidation structure is approaching the 'critical point'.

The symmetrical triangle structure built on the daily chart reflects the convergence and uncertainty of market sentiment. This pattern usually appears after prolonged price fluctuations, signaling that a strong volatility is about to occur. This structure has been evolving since late April, gradually tightening, and is now approaching the convergence peak, putting the market in a highly sensitive period.

Currently, the area between $104,000 and $106,000 forms a decision zone:

  • The upper resistance level is still around $106,000 and has not been effectively broken.

  • The lower support is concentrated around $104,000, which has triggered short-term rebounds multiple times.

It is worth noting that every time Bitcoin touches the lower support, it triggers buying intervention, indicating that bulls are still working behind the scenes.

Ichimoku cloud: Key support for bullish potential

The cloud indicator shows that Bitcoin's price remains above the cloud, and the current cloud is in a green rising shape, which technically reinforces the current bullish pattern. The Ichimoku Kinko Hyo is often regarded as an important basis for trend momentum. When the price is above the cloud, it usually indicates that buying is dominant; if the price falls into the cloud or breaks below the lower edge, it may signal the start of a correction.

Volume and confirmation: The breakout direction still needs to wait for validation

Although the graphic structure is clear, the trading volume has not yet expanded, and the market is still in a brewing phase. A true breakout (whether upward or downward) is often accompanied by an increase in volume and requires a daily closing price to break through the triangle boundary for confirmation.

Technically, it remains in a neutral to bullish phase. If the price breaks above $106,000, the next step may challenge higher resistance levels, starting a new upward trend. Conversely, if it breaks below the $104,000 support, it could trigger further adjustments, targeting the $101,000 or even $98,000 area.

Summary: On the eve of a key decision, wait for a directional breakout.

Bitcoin is currently at the end stage of a converging triangle, and the short-term direction is still unclear. Both bulls and bears are continuously battling, but as the structure approaches its end, the price is bound to break the balance. At this time, one should closely watch whether the price effectively breaks through the triangle boundary and whether the volume expands to serve as a verification basis.

In the coming days, the market may encounter a key battle that will determine the direction of the trend — will a bullish breakout open up upside potential? Or will it break down below support and enter a correction mode? Until the direction is clear, maintaining caution and controlling positions may be a better solution.