BITCOIN (BTC/USDT) ASCENDING TRIANGLE BREAKOUT !!
2025-01-31
Category: None

Bitcoin (BTC/USDT) 4H Analysis: Breakout Toward $110K?

Key Observations:

1. Ascending Triangle Formation:

BTC is forming an ascending triangle pattern, a bullish continuation setup.

A breakout above resistance could lead to a strong upward move.



2. Key Levels:

Resistance Zone: ~$108K-$110K (highlighted in red).

Support Zone: ~$104K-$105K.

200 EMA Support: Currently at $100,528, acting as a strong dynamic support.



3. Potential Scenarios:

Bullish Breakout: If BTC holds above $104K and breaks resistance near $108K, it could rally toward $110K and beyond.

Rejection & Retest: If BTC faces rejection, a pullback to $104K or even the 200 EMA ($100.5K) could occur before another attempt higher.




Conclusion:

Bullish bias remains intact as long as BTC holds above $104K.

A confirmed breakout above $108K-$110K could trigger a move toward new highs.

Watch for volume confirmation on a breakout to validate the uptrend.