Bitcoin is currently consolidating within a symmetrical triangle, suggesting indecision in the market. However, a breakout is imminent — and when it comes, it will likely be sharp.
🔹 Bullish Scenario:
A breakout above $120K would likely lead to a new All-Time High near $124K.
🔹 Bearish Scenario:
A breakdown below $116,400 opens the door for a quick drop toward the $112K–$110K zone, which should be considered a buy opportunity.
⚠️ Pro Tip:
There’s a volume imbalance just below the $116.4K level. If price breaks below it, the move down may be faster and more aggressive than expected — so plan accordingly.
Regardless of short-term volatility, the macro trend remains bullish, and Bitcoin will rise again.
Thanks for reading.
🔹 Bullish Scenario:
A breakout above $120K would likely lead to a new All-Time High near $124K.
🔹 Bearish Scenario:
A breakdown below $116,400 opens the door for a quick drop toward the $112K–$110K zone, which should be considered a buy opportunity.
⚠️ Pro Tip:
There’s a volume imbalance just below the $116.4K level. If price breaks below it, the move down may be faster and more aggressive than expected — so plan accordingly.
Regardless of short-term volatility, the macro trend remains bullish, and Bitcoin will rise again.
Thanks for reading.
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.
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.