🛑🛑🛑Triangle Formation 🔺:
On the chart we see a tapering symmetrical triangle, which indicates a possible continuation of the trend. Pairs often consolidate within such formations before a breakout occurs.

$BTC

  1. Indicator 📊:

    • Moving Averages (MA):

      • MA(9) = 69,017.76 USDT

      • MA(99) = 69,125.00 USDT

    • Parabolic SAR = 70,402.73 USDT (indication of possible selling pressure)

    • Indicator Ishimoku:

      • Tenkan-Sen (red line) = 69,125.00 USDT

      • Kijun-Sen (blue line) = 68,694.50 USDT

      • Chikou Span = 68,845.00 USDT

  2. Volumes 📈:
    Trading volumes are declining, which is typical for consolidation in a triangle. A breakout from a triangle is often accompanied by an increase in volume.

    $BTC

Support and resistance levels 🚧

  • Support:

    • The bottom line of the triangle is around 67.845 USDT

    • Kijun-Sen = 68,694.50 USDT

  • Resistance:

    • The upper line of the triangle is around 70,402.73 USDT

    • MA(99) = 69,125.00 USDT

Possible development scenarios 📈📉

  1. Bullish breakout 🚀:
    If the price can overcome the upper line of the triangle and consolidate above the level of 70,402.73 USDT, we can expect further growth towards 73,000 - 75,000 USDT. An increase in volume will confirm a breakout.

  2. Bearish breakout 🐻:
    If the price breaks the lower line of the triangle and consolidates below the 67.845 USDT level, this could lead to a fall to the support zone around 65,000 - 63,000 USDT.

Recommendations 🎯

  • Buy: Open long positions on the break above 70,402.73 USDT with targets of 73,000 - 75,000 USDT.

  • Sell: Consider shorting the break below 67.845 USDT with targets at 65,000 - 63,000 USDT.

  • Stop Loss: Set stop losses at levels below previous lows and highs depending on the direction of the trade.

🌟 Happy trading and remember the risks! 🌟

#BTC #cryptousdua