Bull or Bear ? Analyzing the Descending Triangle

#BullorBear" #DescendingTriangle #BullorBear? #BinanceSquareFamily #BTC☀

Price Action : A descending triangle forms with key support around $94,000 and resistance near $98,688. Price action is oscillating between $96,000–$98,000, indicating potential consolidation before a breakout.

Critical Levels :
Resistance (Premium Zone) : $98,688.
Support (Discount Zone) : $94,000–$96,000.
POI (Point of Interest) : $96,850.

Possible Scenarios :

Bullish : A breakout above $98,688 could target $100,665–$101,000. Confirmation through volume and RSI divergence.

Bearish : A breach below $94,000 targets $93,000. A strong bearish candle below $94,000 validates this.

Range Continuation : The triangle may continue until a clear breakout direction is established.

Indicators :
RSI : Watch for oversold/overbought signals.
Volume : A breakout with increased volume adds confidence.

Pro Tip :

Set stop-loss just below $94,000 for risk management.

Conclusion :

A breakout could define the trend, so stay alert and manage your trades based on the key levels and volume confirmations.