Clean pennant breakout on $BTC weekly — let's walk through the structure.
First resistance sits at $83.5k. That's your first test. If we clear it with volume and hold above on a retest, the setup stays valid.
Next target: $102k, previous resistance zone. This is where you watch for supply to show up. If we push through clean, momentum confirms.
Then $122k — prior highs. This is the big test. Break and hold here, and you're in price discovery mode.
Full extension on the 2.618 Fibonacci lands at $155k. That's the golden ratio target if this runs uninterrupted.
Invalidation? Lose the pennant structure and fail to reclaim $83.5k. That flips the bias and you reassess.
This is textbook breakout structure. Watch the levels, respect the invalidation, and let the chart teach you where the trade lives.
First resistance sits at $83.5k. That's your first test. If we clear it with volume and hold above on a retest, the setup stays valid.
Next target: $102k, previous resistance zone. This is where you watch for supply to show up. If we push through clean, momentum confirms.
Then $122k — prior highs. This is the big test. Break and hold here, and you're in price discovery mode.
Full extension on the 2.618 Fibonacci lands at $155k. That's the golden ratio target if this runs uninterrupted.
Invalidation? Lose the pennant structure and fail to reclaim $83.5k. That flips the bias and you reassess.
This is textbook breakout structure. Watch the levels, respect the invalidation, and let the chart teach you where the trade lives.
