Bitcoin Prepares For Make-Or-Break Move As Textbook Triangle Meets Tight Range

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Bitcoin is approaching a critical juncture as its textbook ascending triangle converges with a tight trading range. Consolidation near key support and resistance levels sets the stage for a potential breakoutor breakdown, making the next moves crucial for market momentum. Ascending Triangle Signals Strength

Alpha Crypto Signal, in a recent post, highlighted that Bitcoin is currently shaping a textbook ascending triangle pattern on the daily chart — a well-recognized bullishcontinuation setup. The analyst explained that price action is consolidating just under the horizontal resistance zone at $122,500, while a series of higher lows continues to form along the rising trendline, signaling strong underlying demand. Related Reading Bull Case For Bitcoin At $300,000 Triggers After Reaching Critical Level 1 day ago

The analystemphasized that as long as BTC holds above the 9 EMA at $118,738 and respects the ascending triangle’s support line, the overall bias remains bullish. These levels are crucial in maintaining the pattern’s structure, and a break below them could shift sentimentin favor of the bears. The persistence of higher lows indicates that buyers are consistently stepping in, preventing significant pullbacks, as indicated on the chart. Source: Alpha Crypto Signal on X

In conclusion, Alpha Crypto Signal stated that a clean break above the $122,500 resistance, backed by strong volume, could open the door for BTC to push toward a new all-time high. Such a move is likely to confirm the ascending triangle breakout and potentially trigger the next major bullish wave in the market. Bitcoin Stuck Between $112,592 And $123,334

In an X post, X_Crypto, after examining Bitcoin’s action in a 4-hour timeframe, revealed that the flagship asset is currently trading within a defined rangebetween $112,592 and $123,334, as highlighted on the chart. Meanwhile, the price is hovering around $119,106, with local support at $117,445 and the nearest resistance set at $123,334. Related Reading Bitcoin Price Wobbles Below Resistance – Could a Fresh Drop Follow? 1 week ago

The analyst noted that above the current range, $124,576 stands out as a key resistance zone. If this level is breached, the next upside target would be $127,272, which could serve as a profit-taking point in a bullish scenario. These levels will be critical in determining the strength of any upward continuation.

On the downside, X_Crypto pointed out that a break below $117,445 could open the way for a drop toward $112,592 — the lower boundary of the range and a strong supportzone where buyers are likely to step in. This area, the writer stressed, will be pivotal for defending the broader bullish structure.

Lastly, indicators on the lower timeframes, as mentioned by X_Crypto, are showing local oversold conditions, hinting at a potential short-term bounce. However, the analyst cautioned that without sustained consolidation above $119,106, selling pressure could persist, limiting any meaningful upside momentum. BTC trading at $119,016 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com