What's cooking with Bitcoin? BTCUSDT
On the daily timeframe, BTCUSDT is forming a large ascending triangle pattern. There is strong resistance at the current all-time high (ATH) levels. We can expect multiple retests in this supply zone. If BTC consolidates within this range and positive sentiment persists, we may see a breakout to the $84,000-$85,000 levels. The trendline will act as interim resistance.
However, if negative sentiment prevails, there is a chance of breaking down from this pattern.
Both the momentum (10) oscillator and the 100-day Moving Averages are signalling bullish trends. This suggests potential upward movement in BTC’s price.
However, if negative sentiment prevails, there is a chance of breaking down from this pattern.
Both the momentum (10) oscillator and the 100-day Moving Averages are signalling bullish trends. This suggests potential upward movement in BTC’s price.
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.