On the 4-hour timeframe, Bitcoin has broken above the descending trendline 📉 — however, the breakout lacks strong momentum, and no higher high has formed yet.
Therefore, we cannot yet confirm a shift from a bearish to a bullish trend.
According to the Fibonacci retracement tool, price is currently ranging between the 0.236 and 0.382 levels. These two zones could act as key decision points on the lower timeframes.
A confirmed breakout above the 0.382 level ✅ would signal bullish continuation.
A breakdown below the 0.236 level ❌ could lead to a move down toward the $81,200 zone — aligning with the broader trendline support.
On the 15-minute timeframe, price is consolidating and forming a triangle wedge pattern 🔺.
A breakout from this wedge may provide short-term direction toward the key Fibonacci levels mentioned above
Therefore, we cannot yet confirm a shift from a bearish to a bullish trend.
According to the Fibonacci retracement tool, price is currently ranging between the 0.236 and 0.382 levels. These two zones could act as key decision points on the lower timeframes.
A confirmed breakout above the 0.382 level ✅ would signal bullish continuation.
A breakdown below the 0.236 level ❌ could lead to a move down toward the $81,200 zone — aligning with the broader trendline support.
On the 15-minute timeframe, price is consolidating and forming a triangle wedge pattern 🔺.
A breakout from this wedge may provide short-term direction toward the key Fibonacci levels mentioned above
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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.