Bitcoin’s Next Movement=>Symmetrical Triangle!!!

Jan 24

On January 24, 2025, the latest U.S. Flash Manufacturing and Services PMI data was released, revealing mixed signals about the economy. These indicators often influence market sentiment and could drive volatility in Bitcoin and others.

Manufacturing PMI: Rose to 50.1 in January from 49.4 in December, signaling a slight improvement in manufacturing conditions.

Services PMI: Declined to 52.8 from 56.8, marking the slowest growth in nine months.

Potential Impact on Bitcoin(BTCUSDT):

The slowdown in the services sector may lead to increased market uncertainty, potentially driving investors toward alternative assets like Bitcoin. However, the modest uptick in manufacturing could offset some of this uncertainty.


Overall, Bitcoin might experience heightened volatility as markets react to these mixed economic signals.
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Regarding the news of the last 24 hours that came in the crypto, the news has been positive as in the past days and weeks:

• President Trump signs an executive order for a national Bitcoin strategic reserve.
  
  
• SEC Eases Rules for Banks to Safely Hold Bitcoin and Crypto.
  

In general, from Donald Trump's inauguration until Trump's speech, the crypto market has been very excited, and we even saw a bull trap in the Bitcoin chart.

Generally, the news can affect the trend, but we must also pay attention to the technical zones on the chart.
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Now, let's take a look at the Bitcoin chart on the 1-hour time frame.

Bitcoin is moving in the Resistance zone($107,300-$105,400) near the upper lines of the Symmetrical Triangle.

Educational Tip: A symmetrical triangle is a continuation pattern where the price forms converging trendlines of lower highs and higher lows, indicating market indecision. A breakout usually follows, signaling the trend's direction.

Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.

I expect Bitcoin to once again decline to at least the lower lines of the symmetrical triangle. In general, if any of the lines of the symmetrical triangle are broken, Bitcoin can continue in the same direction.

Note: In general, the Volume Trading on Saturday and Sunday is low, and if Bitcoin fails to break the upper lines of the symmetric triangle in the next few hours, we can expect Bitcoin to correct to the first target that I specified in the chart.

Note: If Bitcoin goes above $108,520, we can expect Bitcoin to increase at least to Cumulative Long liquidation Leverage($111,053-$109,594).


Can Bitcoin make a new All-Time High(ATH)!? Please share your ideas in the comments.

Please respect each other's ideas and express them politely if you agree or disagree.

Bitcoin Analyze (BTCUSDT), 1-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.

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Jan 25

Trade active

Trade was activated when BTC touched the upper lines of Triangle.

Jan 26

Trade closed: target reached

My first Target Done

Jan 27

Note

Full Target =Done