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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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Analysis

The daily ascending triangle with rising lows indicates buyer commitment, but the tight range and proximity to key EMAs mean momentum is compressed. A volume-backed breakout would validate bullish con...

Recommendation

I’m watching for confirmation: consider waiting for a decisive breakout above $122.5K on strong volume to add exposure, or use weakness toward $117K–$112.6K as a potential buying opportunity with stri...

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.

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