Hey everyone!
If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated!
BTC is currently forming an ascending triangle pattern on the daily timeframe. The price is testing the lower trendline, which is a key support level.
Here's what we're watching:
Potential breakout: A clean break and close above the upper trendline of the triangle would be a bullish signal, potentially leading to higher prices.
Target: If the breakout is confirmed, some analysts are targeting $100k. However, it's important to remember that price targets are not guarantees.
Breakdown scenario: If the price breaks down and closes below the lower trendline with significant volume, it could indicate a bearish reversal. Potential support levels could be around
52K-$60k.
Let me know your thoughts in the comments below!
If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated!
BTC is currently forming an ascending triangle pattern on the daily timeframe. The price is testing the lower trendline, which is a key support level.
Here's what we're watching:
Potential breakout: A clean break and close above the upper trendline of the triangle would be a bullish signal, potentially leading to higher prices.
Target: If the breakout is confirmed, some analysts are targeting $100k. However, it's important to remember that price targets are not guarantees.
Breakdown scenario: If the price breaks down and closes below the lower trendline with significant volume, it could indicate a bearish reversal. Potential support levels could be around
52K-$60k.Let me know your thoughts in the comments below!
Note
Need a daily close above the lower trendline for a bullish scenario. If we get a breakdown by daily close, then we might test the HTF support level($53k-$60k)
Hoping for a good bounce from here🤞
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.
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.