Bitcoin (BTCUSD) is currently trading within a well-defined symmetrical triangle pattern on the daily chart. This formation is characterized by converging trendlines—higher lows and lower highs—indicating a period of consolidation and decreasing volatility.
Price action is tightening, suggesting a potential breakout is imminent. Symmetrical triangles can break either way, but in this case, the pattern follows a strong prior uptrend, hinting at a possible bullish continuation. Still, traders should watch closely for a confirmed breakout with volume.
⚠️ Key levels to watch:
Upper resistance: ~$111,000
Lower support: ~$96,000
A decisive break above or below these boundaries could set the tone for BTC’s next major move.
Price action is tightening, suggesting a potential breakout is imminent. Symmetrical triangles can break either way, but in this case, the pattern follows a strong prior uptrend, hinting at a possible bullish continuation. Still, traders should watch closely for a confirmed breakout with volume.
⚠️ Key levels to watch:
Upper resistance: ~$111,000
Lower support: ~$96,000
A decisive break above or below these boundaries could set the tone for BTC’s next major move.
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