Structure & Price Action
BTC is consolidating within a symmetrical triangle (red trendlines).
Price is squeezing near the apex, suggesting an imminent breakout.
Strong defense at ascending channel support (~108K zone) + green trendline.
Lower highs indicate sellers still active, but higher lows reflect buyer strength too.
Price bounced from previous demand block (green box), now pushing toward resistance.
📊 Indicator Confluence
RSI: Curling up from mid-range (~52–55), no divergence, neutral-to-bullish tilt.
DMI/ADX: ADX rising slightly, -DI weakening vs +DI → potential trend shift brewing.
MACD: Histogram flat; momentum hasn't confirmed either side yet.
Wave Trend: Bouncing from mid-line, bullish cross may form if price breaks triangle.
Volume: Gradual decline = typical pre-breakout compression. Watch for spike.
Stochastic: Flipped bullish from oversold — early bullish bias.
🎯 Summary & Probabilities:
BTC is coiling near triangle apex — breakout likely soon.
🔼 Break above 109.4K with volume → 60% chance of move to 110.5K–111.5K.
🔽 Drop below 107.9K → 40% chance of fall to 106.3K–104.4K.
Bias: Neutral-to-bullish — confirmation needed.
BTC is consolidating within a symmetrical triangle (red trendlines).
Price is squeezing near the apex, suggesting an imminent breakout.
Strong defense at ascending channel support (~108K zone) + green trendline.
Lower highs indicate sellers still active, but higher lows reflect buyer strength too.
Price bounced from previous demand block (green box), now pushing toward resistance.
📊 Indicator Confluence
RSI: Curling up from mid-range (~52–55), no divergence, neutral-to-bullish tilt.
DMI/ADX: ADX rising slightly, -DI weakening vs +DI → potential trend shift brewing.
MACD: Histogram flat; momentum hasn't confirmed either side yet.
Wave Trend: Bouncing from mid-line, bullish cross may form if price breaks triangle.
Volume: Gradual decline = typical pre-breakout compression. Watch for spike.
Stochastic: Flipped bullish from oversold — early bullish bias.
🎯 Summary & Probabilities:
BTC is coiling near triangle apex — breakout likely soon.
🔼 Break above 109.4K with volume → 60% chance of move to 110.5K–111.5K.
🔽 Drop below 107.9K → 40% chance of fall to 106.3K–104.4K.
Bias: Neutral-to-bullish — confirmation needed.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.