Bitcoin has been on a wild ride, soaring from 25,000 to 38,000, and is now in a consolidation phase marked by a symmetrical triangle (that orange highlight). This triangle's breakout will likely set the tone for the market for the rest of the year.
If BTC breaks upward, closing a daily candle above 38,000, it could signal a bullish run toward 40,000. On the flip side, a break below 35,600 on a daily closing candle might mean bearish momentum, possibly leading to a drop towards the 30,000 - 32,000 support zone.
Did you find this crypto market analysis helpful? Stay updated about the latest crypto market update.
Please continue to follow my analysis and feel free to ask any queries, you may have. I am here to assist you.
TradingView: @frmnCapital
If BTC breaks upward, closing a daily candle above 38,000, it could signal a bullish run toward 40,000. On the flip side, a break below 35,600 on a daily closing candle might mean bearish momentum, possibly leading to a drop towards the 30,000 - 32,000 support zone.
Did you find this crypto market analysis helpful? Stay updated about the latest crypto market update.
Please continue to follow my analysis and feel free to ask any queries, you may have. I am here to assist you.
TradingView: @frmnCapital