Bitcoin consolidating within a 4-hour symmetrical triangle
Bitcoin is currently consolidating within a 4-hour symmetrical triangle pattern.
Bullish Scenario: A breakout to the upside would require Bitcoin to clear the key supply zone between 103.8K - 105.6K. If this resistance is taken out, bullish momentum could accelerate as indicated by the green pathway.
Bearish Scenario: If Bitcoin fails to hold the current demand zone, a breakdown from the pattern is likely. In this case, the price could decline toward the 77K - 75K demand zone, which aligns with the existing CME gap in that region. The red pathway illustrates this potential price action.
This is not financial advice, but a mere scenario of what could play out based on market structure and order-blocks.
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.