BTC/USDT at Decision Point: Triangle Pattern Signals Breakout

17 May

Hello guys!

Bitcoin is consolidating in a symmetrical triangle pattern near a key resistance zone after a strong uptrend within the ascending channel. The price is trading just below the triangle’s top line, indicating a potential breakout or breakdown setup.

✔ Key Scenarios:
👀 Scenario 1 – Bullish Breakout:

• If BTC breaks above the top of the triangle, we could see a sharp move upward toward the $106K resistance zone and potentially higher.
  
• This would signal trend continuation and strength in the bullish momentum.
  

👀 Scenario 2 – Temporary Pullback (Triangle Breakdown):

• If BTC breaks the bottom of the triangle, the price might fall toward the $99,715 support level.
  
• This zone is also aligned with a previous consolidation and could serve as a strong demand area.
  
• A bullish reversal from this area is likely, providing another long opportunity targeting the same $106K resistance.
  

Conclusion:
Bitcoin is moving in a tightening range. A breakout from the triangle will dictate the next move. For clearer direction, traders should watch for a decisive move above or below the triangle structure.

17 May

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18 May

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The triangle is broken from the top line!