Bitcoin is currently trading inside a tightening symmetrical triangle, with price respecting both the descending resistance trendline and ascending support trendline. Multiple touches on each side confirm the structure.
A breakout is likely approaching as BTC nears the apex:
Bullish Scenario:
Break above the resistance trendline could trigger momentum toward the 102,500–105,000 zone.
Bearish Scenario:
Breakdown below support may open a move toward the 99,000–98,000 area.
Until a clear breakout occurs, price may continue to consolidate within the triangle.
Watch for strong volume to confirm direction.
A breakout is likely approaching as BTC nears the apex:
Bullish Scenario:
Break above the resistance trendline could trigger momentum toward the 102,500–105,000 zone.
Bearish Scenario:
Breakdown below support may open a move toward the 99,000–98,000 area.
Until a clear breakout occurs, price may continue to consolidate within the triangle.
Watch for strong volume to confirm direction.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.