BTCUSD: Triangle Compression After Trendline Break

Jan 11

Hi!

Bitcoin broke the long-term descending trendline, but instead of expanding, the price moved into a large triangle range. This shows hesitation; the market is building energy, not trending yet.

Current structure:
Broken downtrend → consolidation
Clear triangle with rising support and horizontal resistance

Key levels & scenarios:

• Bullish scenario:
  

If price breaks and holds above the top of the triangle (93,500–94,000)
→ First target: 99,200
→ Extension target: 104,400

• Bearish scenario:
  

If price loses the rising trendline support
→ Downside opens toward 81,300

For now, this is a wait-for-breakout structure. Direction will be decided only after a clean break, patience matters here.


Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.

Jan 12

Trade active

The bullish trend is running!

Jan 20

Trade closed: target reached

enter the next long position for th enext target