Bitcoin’s Next Movement=>Symmetrical Triangle!!!
2025-01-24
Category: None

On January 24, 2025 , the latest  U.S. Flash Manufacturing  and  Services PMI  data was released, revealing mixed  signals about the economy . These indicators often influence market sentiment and could drive volatility in  Bitcoin  and others.

 Manufacturing PMI :  Rose to  50.1  in January from  49.4  in December, signaling a slight improvement in manufacturing conditions.  

 Services PMI :  Declined to  52.8  from  56.8 , marking the slowest growth in  nine months . 
 
 Potential Impact on Bitcoin( BINANCE:BTCUSDT ) :

 The slowdown in the services sector may lead to increased market uncertainty, potentially driving investors toward alternative assets like Bitcoin. However, the modest uptick in manufacturing could offset some of this uncertainty. 
 

 Overall, Bitcoin might experience heightened volatility as markets react to these mixed economic signals. 
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Regarding the news of the  last 24 hours  that came in the  crypto , the news has been  positive  as in the past days and weeks:
 
 President Trump signs an executive order for a national Bitcoin strategic reserve.

 SEC Eases Rules for Banks to Safely Hold Bitcoin and Crypto.
 
In general, from  Donald Trump's inauguration until Trump's speech , the crypto market has been very  excited , and we even saw a  bull trap  in the Bitcoin chart.

Generally, the  news can affect the trend , but we must also  pay attention to the technical zones on the chart . 
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Now, let's take a look at the  Bitcoin chart on the 1-hour time frame .

 Bitcoin  is moving in the  Resistance zone($107,300-$105,400)  near the  upper lines  of the  Symmetrical Triangle .

 Educational Tip :  A symmetrical triangle  is a continuation pattern where the price forms converging trendlines of lower highs and higher lows, indicating market indecision. A breakout usually follows, signaling the trend's direction. 

Also, we can see the  Regular Divergence(RD-)  between  Consecutive Peaks .

I expect  Bitcoin  to once again decline to at least the  lower lines of the symmetrical triangle . In general, if any of the lines of the symmetrical triangle are broken,  Bitcoin can continue in the same direction .

 Note: In general, the Volume Trading on Saturday and Sunday is low, and if Bitcoin fails to break the upper lines of the symmetric triangle in the next few hours, we can expect Bitcoin to correct to the first target that I specified in the chart. 

 Note: If Bitcoin goes above $108,520, we can expect Bitcoin to increase at least to Cumulative Long liquidation Leverage($111,053-$109,594).
 

 Can Bitcoin make a new All-Time High(ATH)!? Please share your ideas in the comments. 

 Please respect each other's ideas and express them politely if you agree or disagree. 

Bitcoin Analyze (BTCUSDT), 1-hour time frame.

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