The BTC/USDT pair is exhibiting an ascending triangle pattern on the 1-hour timeframe. Currently, it is trading along the trendline support, with additional support indicated by the Ichimoku cloud, MA 50, and MA 100.
In this scenario, a decisive breakdown below the Ichimoku cloud would signal short-term bearish sentiment, suggesting potential downward movement in the near term. Conversely, a bounce from the current support levels and a sustained breakout above the triangle pattern would confirm bullish sentiment, indicating a potential continuation of the upward trend. Traders should closely monitor these key levels for potential trading opportunities.
