Bitcoin / TetherUSUpdated BITCOIN (BTC/USDT) ASCENDING TRIANGLE BREAKOUT !!
Bitcoin (BTC/USDT) 4H Analysis: Breakout Toward 110K?
Key Observations:
1. Ascending Triangle Formation:
BTC is forming an ascending triangle pattern, a bullish continuation setup.
A breakout above resistance could lead to a strong upward move.
2. Key Levels:
Resistance Zone: ~108K-110K (highlighted in red).
Support Zone: ~104K-105K.
200 EMA Support: Currently at $100,528, acting as a strong dynamic support.
3. Potential Scenarios:
Bullish Breakout: If BTC holds above 104K and breaks resistance near 108K, it could rally toward 110K and beyond.
Rejection & Retest: If BTC faces rejection, a pullback to 104K or even the 200 EMA (100.5K) could occur before another attempt higher.
Conclusion:
Bullish bias remains intact as long as BTC holds above 104K.
A confirmed breakout above 108K-110K could trigger a move toward new highs.
Watch for volume confirmation on a breakout to validate the uptrend.
Key Observations:
1. Ascending Triangle Formation:
BTC is forming an ascending triangle pattern, a bullish continuation setup.
A breakout above resistance could lead to a strong upward move.
2. Key Levels:
Resistance Zone: ~108K-110K (highlighted in red).
Support Zone: ~104K-105K.
200 EMA Support: Currently at $100,528, acting as a strong dynamic support.
3. Potential Scenarios:
Bullish Breakout: If BTC holds above 104K and breaks resistance near 108K, it could rally toward 110K and beyond.
Rejection & Retest: If BTC faces rejection, a pullback to 104K or even the 200 EMA (100.5K) could occur before another attempt higher.
Conclusion:
Bullish bias remains intact as long as BTC holds above 104K.
A confirmed breakout above 108K-110K could trigger a move toward new highs.
Watch for volume confirmation on a breakout to validate the uptrend.
Trade closed: stop reached
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JOIN MY TELEGRAM CHANNEL
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.