Breakout Confirmation:
MACD and RSI (not visible but assumed important):
Price Targets:
Summary:
Careful monitoring of volume, breakout confirmation, and subsequent price action will be essential for executing a trade strategy.
- A breakout above $92,000 with high volume would confirm the bullish continuation. Conversely, a break below $88,000 would signal bearish pressure.
MACD and RSI (not visible but assumed important):
- Look for a bullish crossover on MACD or RSI climbing above 50 for upward momentum.
Price Targets:
- If the breakout is upward, targets could range between $95,000 and $100,000, based on the triangle's measured move (distance from base applied to breakout point).
Summary:
- Bullish Bias: The overall trend and symmetrical triangle pattern suggest potential for an upward breakout.
- Bearish Risk: A break below $88,000 would negate the bullish scenario and could lead to a retest of lower support levels, such as $84,000.
Careful monitoring of volume, breakout confirmation, and subsequent price action will be essential for executing a trade strategy.
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