Bitcoin (BTC/USDT) Symmetrical Triangle Analysis: Next Move?

28 sty

Bitcoin (BTC/USDT) 4H Chart Analysis

Key Observations:

1. Symmetrical Triangle Pattern:

The chart shows a symmetrical triangle formation, characterized by converging trendlines.

This pattern typically signals a breakout, but the direction (up or down) depends on market momentum.



2. Current Price Action:

BTC is trading around $102,979.98 at the time of the chart.

It is above the 200 EMA ($100,003.64), indicating bullish strength.

The price recently bounced off support and is moving towards resistance.



3. Support and Resistance Levels:

Support: Around $97,785.55 (blue line).

Resistance: Around $109,636.60 (blue line).



4. Potential Scenarios:

Bullish Breakout:

If BTC breaks above the upper trendline, it may rally towards $109,636.60 or higher.

A confirmed breakout could push BTC to $112,500+.


Bearish Breakdown:

If BTC rejects at resistance and breaks downward, it could retest the $100,000 level or lower.

A breakdown could target $97,785.55 or even $95,000.





Final Thoughts:

Watch for a breakout or breakdown from the triangle pattern.

Volume is crucial—a high-volume breakout confirms strength, while low volume can indicate a fakeout.

If BTC stays above $100,000 (200 EMA support), the bullish bias remains intact.

28 sty

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Bitcoin (BTC/USDT) Analysis Update: Critical Movement Observed

BTC recently broke the resistance level but faced a sudden pullback, returning to the support zone. Given this volatility, we are closing this analysis for now and waiting for a more stable setup.

Stay patient, and I’ll share the next potential trade opportunity soon. Let’s wait for confirmation before making the next move!