This BTC/USD 4-hour chart shows a symmetrical triangle formation, with price respecting both the ascending trendline and descending resistance. The price is currently near the support of the triangle and could make another move toward equilibrium before testing the upper trendline.
Key levels and target - Resistance at 90,726 (target area). - Support at the ascending trendline and weak low at 78,913. - A breakout above the triangle resistance could lead to bullish momentum toward 94,818.
A reaction at equilibrium may decide whether BTC continues consolidating or breaks out. Keep an eye on volume and momentum for confirmation.
1. 90,726 – A key resistance level and the first bullish target. 2. 94,818 – If BTC breaks above the first target, this level could be the next upside resistance. 83,500 – A safer stop-loss level below recent swing lows, reducing the chances of getting stopped out by short-term volatility.
A breakout above the symmetrical triangle with strong momentum could push BTC toward these levels. Watch for confirmation at the equilibrium zone and a successful breakout for further upside movement.
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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.