🚨 Bitcoin Market Outlook – Eyes on the Breakout 🚨
Bitcoin has been consolidating in a tightening range, but things are heating up. On the 4-hour chart, we've seen a breakout from the symmetrical triangle formation. However, it's too early to confirm this move—no backtest yet, and price remains capped below key resistance at $118.2K.
🔍 What I’m Watching:
Retest of the triangle trendline – this could confirm the breakout.
4H close above $118.2K – that’s the signal bulls are waiting for. A solid close here could trigger momentum toward $120K+.
⚠️ Bearish Scenario: If BTC fails to hold, I’m eyeing support levels at $116K and $113K as potential downside targets.
Stay sharp. Key levels are in play, and the next few candles could set the tone.