Bitcoin at a Make-or-Break Ascending Triangle — Watch $122.5K Break
I'm watching Bitcoin as it compresses into a textbook ascending triangle beneath horizontal resistance near $122,500 while forming higher lows — a classic bullish continuation pattern. Price is hovering around $119k and remains keyed to the 9 EMA (~$118.7k) and local support at $117.4k.
If BTC clears $122,500 with conviction and volume, I expect a directional run toward new highs and the next targets in the $124.5k–$127.3k area. Conversely, a breach below the triangle support and the 9 EMA would likely open a drop back toward the $112.6k range.
Volume and timeframe matter: I’m focused on a clean breakout or a clear breakdown before taking directional risk — this is a make-or-break setup where confirmation should guide trades.
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Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.