BTC/USDT Analysis: Post-triangle Breakout in Ascending Channel
hello guys.
I have published about this pattern before, and now I am certain about this scenario!
Key Observations:
Broken symmetrical triangle Pattern: Bitcoin has broken out from a pattern, indicating a bullish reversal from the prior downward trend.
Ascending Channel: After the breakout, BTC is moving within an ascending channel, showing the formation of higher lows and higher highs, confirming bullish momentum.
Support Zones:
Around $57,000-$58,000: Strong support, previously tested and confirmed, serving as a potential rebound zone for price corrections.
Resistance Zones:
Potential Price Path:
The chart outlines a scenario, where after a correction or consolidation around current levels ($61,000-$63,000), BTC could retest and break the $66,000 resistance. A clear break could see prices surge towards the $75,000-$77,000 range.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
I have published about this pattern before, and now I am certain about this scenario!
Key Observations:
Broken symmetrical triangle Pattern: Bitcoin has broken out from a pattern, indicating a bullish reversal from the prior downward trend.
Ascending Channel: After the breakout, BTC is moving within an ascending channel, showing the formation of higher lows and higher highs, confirming bullish momentum.
Support Zones:
Around $57,000-$58,000: Strong support, previously tested and confirmed, serving as a potential rebound zone for price corrections.
Resistance Zones:
- Between $66,000 and $67,000: The first significant resistance. If Bitcoin breaks through this level, the bullish trend will likely continue.
- Between $75,000 and $77,000: A key upper resistance target, marking a long-term price goal if momentum persists.
Potential Price Path:
The chart outlines a scenario, where after a correction or consolidation around current levels ($61,000-$63,000), BTC could retest and break the $66,000 resistance. A clear break could see prices surge towards the $75,000-$77,000 range.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
👉my recommended broker:
bit.ly/HYCM-M
__________
👉my recommended exchange:
bit.ly/LbankMelika
__________
My telegram channel:
t.me/melikatrader94
bit.ly/HYCM-M
__________
👉my recommended exchange:
bit.ly/LbankMelika
__________
My telegram channel:
t.me/melikatrader94
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.