Bitcoin is consolidating within an ascending triangle and is currently trading above the Ichimoku Cloud, which is acting as a support indicating underlying strength.
As long as price holds above the cloud, a bounce is likely.
However, a decisive breakout or breakdown from the pattern is needed to confirm the next directional move, so patience is key here.
PLUME is trading above the demand zone within a descending triangle pattern, indicating potential support at this level. From here, a strong bounce can be expected. A solid breakout above the pattern would confirm a bullish rally. 🚀
The ALTS market cap is trading below the resistance trendline of an ascending channel, with the Ichimoku Cloud acting as a resistance barrier above the current price action.
A strong breakout above the pattern would signal another bullish rally in the altcoin market.
However, rejection from this level is also possible, which could lead to further downside. Keep a close eye on upcoming price action for confirmation.