BITCOIN TO $110K?? - Ascending Triangle - Monthly Support

BTC is currently at a crossroads, running on very low volume and sitting relatively quiet, while the market suffers from extreme fear. Many are calling out the H&S pattern pointing to a target of $14,000. While this is certainly possible, there is a very bullish side to BTC we have to consider. On the Monthly chart, it's quite obvious BTC is in an Ascending Triangle when drawn onto the candle closing bodies. The top of the resistance is the 60-70K range, with much of the PA centered at 60K.

BTC is in quite a bullish place on the macro level, which is the most important to consider for any significant PA. Aside from the bottom of the ascending triangle bottom, we have huge support at 40K since it was resistance for over 70 days. Then we have the 0.5 Fib level and the 21 Day EMA.

BTC is looking like it may be setting itself up for a Bull Flag, which has roughly a target of $110,000. We will need to see where BTC closes the Monthly candle, but it certainly has room below while maintaining this macro bullish structure.