📊 Technical Analysis (Confluences in the images):
1. Chart pattern: Symmetrical triangle
A continuation triangle is forming with price compression. A breakout above the price of $ 118,500 could lead to targets in Fibonacci regions such as:
0.382 (122.027) → first obstacle.
0.5 (123.925) → intermediate resistance.
0.618 (125.822) → important resistance.
0.786 (128.523) → strong expansion target.
1.0 (131.963) → maximum target of the current movement.
2. Volume indicators (VPVR + VWAP)
The area of highest volume is at 118,100–118,500. This is a good support zone.
Above this, we have empty space up to 122k+, which may generate explosive movement post-breakout.
3. Momentum indicators (Stoch RSI and MACD)
On the 1h chart, Stoch RSI is starting to rise again, and the MACD is beginning to want to cross.
On the 4h, it is still sideways, but with no clear bearish divergence.
These signals indicate that the breakout may be near.
4. Ichimoku
Price is navigating within the cloud, indicating consolidation, but with a bullish bias if it breaks.
The Kijun line (blue line) is close to support, helping with the support.