Bitcoin is currently consolidating within a symmetrical triangle pattern on the 4H chart, with both trendlines converging toward a decision point. Price is hovering just below the resistance line (~$118,900) and holding above key support at ~$116,968.
📊 Key Levels:
Resistance: $118,916 (triangle top / horizontal resistance)
Support: $116,968 (horizontal support)
EMA 50 (4H): $117,550 – currently acting as dynamic support
📉 RSI (14): Hovering near 50, indicating neutral momentum — awaiting confirmation of breakout direction.
A breakout above the descending trendline could trigger bullish momentum, while a break below the rising support may indicate further downside. Watch for volume confirmation on the breakout.
📊 Key Levels:
Resistance: $118,916 (triangle top / horizontal resistance)
Support: $116,968 (horizontal support)
EMA 50 (4H): $117,550 – currently acting as dynamic support
📉 RSI (14): Hovering near 50, indicating neutral momentum — awaiting confirmation of breakout direction.
A breakout above the descending trendline could trigger bullish momentum, while a break below the rising support may indicate further downside. Watch for volume confirmation on the breakout.
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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.
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.