Looking at Bitcoin's weekly timeframe, the ascending triangle pattern currently presents a rather constructive technical picture. The way price is consolidating between rising support and horizontal resistance doesn't suggest downside pressure at this stage. The structure of higher lows combined with the resistance level holds suggest buyers remain engaged at these levels. Unless we see a decisive break below the support trendline, this formation looks more aligned with bullish continuation rather than bearish breakdown scenarios. Worth monitoring how Bitcoin responds when tested at the upper boundary.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
7 Likes
Reward
7
5
Repost
Share
Comment
0/400
StopLossMaster
· 01-13 22:59
Is the ascending triangle really that optimistic? It seems many technical analysts say so, but I'm more concerned about when it will truly break through.
View OriginalReply0
AlphaBrain
· 01-13 22:59
It's a rising triangle again, using this move? How did it turn out the last time you said this, did you forget?
View OriginalReply0
SchrodingersPaper
· 01-13 22:57
Ascending triangle? Here we go again... You said the same thing last time, and what was the result?
View OriginalReply0
AirdropHuntress
· 01-13 22:45
The ascending triangle combined with accumulated trading volume indicates that this move still depends on whether the resistance above can be broken through.
View OriginalReply0
TokenomicsDetective
· 01-13 22:36
The ascending triangle looks good; now it's just a matter of whether it can break through the upper boundary.
Looking at Bitcoin's weekly timeframe, the ascending triangle pattern currently presents a rather constructive technical picture. The way price is consolidating between rising support and horizontal resistance doesn't suggest downside pressure at this stage. The structure of higher lows combined with the resistance level holds suggest buyers remain engaged at these levels. Unless we see a decisive break below the support trendline, this formation looks more aligned with bullish continuation rather than bearish breakdown scenarios. Worth monitoring how Bitcoin responds when tested at the upper boundary.