📘 Technical analysis log of #Bitcoin – 4H Chart
The price continues to respect the formation of an ascending triangle, after bouncing from the relative low at $108K.
Since then, it has attempted to break the resistance of $113K several times, with technical pullbacks to levels of $109K, $110K, and $110.8K, suggesting a slight bullish momentum but with a key resistance at 113k.
📊 Key levels:
🔺 Resistance: $113K
🔻 Support: $108K
📈 Scenario 1: If it breaks strongly above $113K, the next target would be the CME gap at $117K, opened more than a week ago.
📉 Scenario 2: If it breaks the triangle downwards with volume, we could retest $108K.
🧐 Why are we monitoring the gap on the CME (Chicago Mercantile Exchange) chart?
Because it is one of the most relevant futures markets in the world and it is the chart that major institutions follow.
Gaps on that chart often act as liquidity magnets.
