Bitcoin is consolidating within a symmetrical triangle pattern, typically seen as a sign of potential price compression. This pattern suggests the market is gearing up for a decisive breakout following a prior bullish move.
A confirmed breakout, followed by a successful retest of the triangle’s upper boundary as support, would provide strong bullish confirmation and signal the potential for further upside momentum.
Conversely, if BTC faces rejection at the resistance, it may continue oscillating within the triangle, maintaining indecision until a clear breakout or breakdown occurs.
Traders should watch closely for volume spikes and confirmation signals to identify the next directional move. #BTC #Erinacrypto $BTC
Despite the prevailing bullish sentiment, Bitcoin shows no signs of weakness.
In the daily chart, we recently observed a successful breakout from the descending channel, and the retest of this breakout level has been confirmed.
Interestingly, despite the unfilled CME gap, Bitcoin is not showing signs of a significant dump. Instead, it is consolidating, which is a positive indicator for continued bullish momentum.
Looking ahead, Bitcoin appears to be on a trajectory toward $100K. Following this milestone, we might see a corrective move down to $77K, similar to the patterns observed during previous bull runs.
#EOS/USDT is positioned above a strong support zone (Zone Long) around 0.5398 USDT, suggesting a potential long setup if the price continues to hold above this area. This support zone could act as a foundation for an upward move towards the defined targets.
Bitcoin has surged following a breakout from its ascending triangle pattern, marking a strong bullish signal. It is undergoing a brief retracement, which is a natural part of the trend. This minor pullback could provide a solid base for further upward movement as bullish momentum resumes. #BTC #Erinacrypto $BTC