๐ Chart Overview:
Current Price: $0.9818
24h High: $1.0986
24h Low: $0.9613
Recent High: $1.1276
Trendlines:
Rising support from ~$0.79
Descending resistance from the $1.12 region
Symmetrical triangle forming โ price nearing the apex.
๐ง Technical Outlook:
๐ก Bullish Signals:
Symmetrical triangle formation can break out either direction, but often follows the trend prior to formation, which was bullish.
Price is above rising support, holding structure for now.
Volume is still significant โ nearly $500M in 24h.
๐ด Bearish Concerns:
Price recently rejected at the upper trendline, now testing lower support again.
-9.09% drop indicates some short-term sell pressure.
If it breaks below rising support (~$0.97โ$0.96), it could dump toward $0.92 or lower.
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๐ฎ What to Watch:
Breakout Point: Above $1.00โ$1.02 (strong bullish breakout)
Breakdown Point: Below $0.96 (short-term bearish)
Confirmation Candle: Wait for high-volume 1H candle closing outside the triangle.
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๐ Potential Pump?
If BTC remains stable and this triangle resolves upward, yes, a pump to $1.07 or $1.12 is possible.
But if market conditions worsen or $0.96 support fails, expect a drop.