📊 BTC – Forming a Descending Triangle Pattern & Strategic Rebound Zone Before Strong H2 Breakout
🔺 The descending triangle pattern has been clearly established, with the upper boundary being a downward trendline, while the bottom area remains steady around the $115,000–$113,800 region. This is a strong support zone that has previously provided significant price rebounds.
🟡 Short-term correction scenario: The price may continue to test the golden support area of $115,164. If the price drops quickly and rebounds strongly, around $115,000 will be the bottom for this correction. However, if the price gradually decreases to the $113,862 area, we need to watch closely, and I will provide further insights later. The formation of a W (double bottom) pattern here will create significant upward pressure, attracting bottom-fishing capital – thereby pushing the price through the downward trendline.
🟢 Bullish breakout scenario: Once BTC breaks the red trendline, the area around $118,500 will confirm a short-term trend reversal. If this area holds, BTC could rebound strongly towards the $123,800 mark – the next psychological resistance zone.
📉 Risks: If the $113,800 area is lost, the pattern structure will be broken, and BTC could slide deeper towards lower support around $110k.
🎯 Conclusion: The $113,800–$115,000 area is the strategic rebound zone where BTC can quickly advance to $123,800 in the coming days.
This is just an H2 candle analysis. The larger 1D frame still shows a long-term uptrend.
1. Hold Spot as I posted this morning; if the price reaches this area, I will add the remaining 30% volume for long-term holding.
2. Those who already have positions should stay put.
3. If you haven't entered yet and are worried, consider entering 70-80% here.
🧠 Note: If the price reaches this area, the rebound will be very quick, and the trend will become clear for altcoins.
Thanks!
