Bitcoin
Long

Bitcoin (BTC/USD) price action with triangular pattern

198
Breakout Confirmation:

  1. A breakout above $92,000 with high volume would confirm the bullish continuation. Conversely, a break below $88,000 would signal bearish pressure.


MACD and RSI (not visible but assumed important):

  • Look for a bullish crossover on MACD or RSI climbing above 50 for upward momentum.


Price Targets:

  • If the breakout is upward, targets could range between $95,000 and $100,000, based on the triangle's measured move (distance from base applied to breakout point).

Summary:
  • Bullish Bias: The overall trend and symmetrical triangle pattern suggest potential for an upward breakout.
  • Bearish Risk: A break below $88,000 would negate the bullish scenario and could lead to a retest of lower support levels, such as $84,000.

Careful monitoring of volume, breakout confirmation, and subsequent price action will be essential for executing a trade strategy.

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