The BTC/USD weekly chart shows strong bullish momentum, trading near $97,035, with a clear uptrend supported by key moving averages.
Key Structure: Bitcoin is currently consolidating within a symmetrical triangle after a strong rally. A breakout from this pattern could signal the next major move.
Support & Resistance: Immediate support lies around $88,352, aligning with the lower boundary of the consolidation zone. Resistance is near $110,000, with a long-term trendline suggesting a possible move towards $140,000.
Potential Scenario: A period of sideways movement within the highlighted range before an upward breakout aligning with the broader bullish trend.
A confirmed breakout above $110,000 could accelerate Bitcoin's rally towards new highs. However, a breakdown below support may retest the rising trendline around $74,000.
What are your thoughts? Will BTC break out soon? 🚀📈 #Bitcoin #Crypto #BTCUSD
Key Structure: Bitcoin is currently consolidating within a symmetrical triangle after a strong rally. A breakout from this pattern could signal the next major move.
Support & Resistance: Immediate support lies around $88,352, aligning with the lower boundary of the consolidation zone. Resistance is near $110,000, with a long-term trendline suggesting a possible move towards $140,000.
Potential Scenario: A period of sideways movement within the highlighted range before an upward breakout aligning with the broader bullish trend.
A confirmed breakout above $110,000 could accelerate Bitcoin's rally towards new highs. However, a breakdown below support may retest the rising trendline around $74,000.
What are your thoughts? Will BTC break out soon? 🚀📈 #Bitcoin #Crypto #BTCUSD
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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.