Technical Analysis: $BTC /USDT (15-min Chart)
Pattern Observed:
You have correctly identified an ascending triangle pattern — characterized by a rising lower trendline (blue) and a relatively flat upper resistance line (red). This is typically a bullish continuation pattern, suggesting the potential for an upward breakout.
Key Resistance & Support Levels:
Resistance (Red Line): Around $70,500 – $70,600
Support (Blue Line): Around $69,000 – $69,200
Volume Analysis:
Notice how volume tends to consolidate during the formation of the triangle and spikes upon breakout. This confirms the bullish momentum as price breaks above resistance.
Potential Price Action:
Upside Target (Next Long Move): After breaking the triangle, the measured move suggests a target near $72,000 – $72,500.
Key Watch Levels: Price should ideally hold above $70,000 after breakout. A drop below $69,000 could invalidate the bullish scenario.
Strategy:
Consider entering a long position on a confirmed breakout above $70,500 with volume support.
Stop-loss can be set below the last swing low near $69,000.
Tarde $BTC Here👇
