BTC/USDT Analysis: Post-triangle Breakout in Ascending Channel
2024-10-02

hello guys.

I have published about this pattern before, and now I am certain about this scenario!



 Key Observations:
 Broken symmetrical triangle Pattern: Bitcoin has broken out from a pattern, indicating a bullish reversal from the prior downward trend.

 Ascending Channel:  After the breakout, BTC is moving within an ascending channel, showing the formation of higher lows and higher highs, confirming bullish momentum.

 Support Zones:
 Around $57,000-$58,000: Strong support, previously tested and confirmed, serving as a potential rebound zone for price corrections.

 Resistance Zones:
 
 
 Between $66,000 and $67,000: The first significant resistance. If Bitcoin breaks through this level, the bullish trend will likely continue.
 Between $75,000 and $77,000: A key upper resistance target, marking a long-term price goal if momentum persists.
 

 Potential Price Path:
 The chart outlines a scenario, where after a correction or consolidation around current levels ($61,000-$63,000), BTC could retest and break the $66,000 resistance. A clear break could see prices surge towards the $75,000-$77,000 range.

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