$BTC
Price is currently compressing inside a symmetrical triangle.
With the range getting increasingly tight, we should see a decisive breakout sometime soon.
For now, I favor a break to the downside, as yesterday’s attempt to push higher failed and instead turned into a liquidity sweep.
Since then, we’ve seen a strong rejection, fueled by aggressive spot selling that continues to put additional pressure on buyers.
If the lower boundary gives way, the projected breakdown target sits around $80.8k.
That would also bring BTC directly into the area where my next bids for another long are placed.
For now, I’m simply waiting for price to confirm a breakout into either direction.
$BTC
Price is currently compressing inside a symmetrical triangle.
With the range getting increasingly tight, we should see a decisive breakout sometime soon.
For now, I favor a break to the downside, as yesterday’s attempt to push higher failed and instead turned into a liquidity sweep.
Since then, we’ve seen a strong rejection, fueled by aggressive spot selling that continues to put additional pressure on buyers.
If the lower boundary gives way, the projected breakdown target sits around $80.8k.
That would also bring BTC directly into the area where my next bids for another long are placed.
For now, I’m simply waiting for price to confirm a breakout into either direction.
$BTC
