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🔸 Symmetrical Triangle Formation: The price is consolidating within a symmetrical triangle, indicating potential volatility ahead. A breakout is likely to determine the next major price movement.
🔸 Key Support Zone at 101,000 USDT:
The ascending trendline suggests strong support around this level.
A breakdown below this could lead to further downside pressure.
🔸 Upside Target: 107,500 - 110,000 USDT
A breakout above the descending resistance line may push the price towards these levels.
Increased volume would confirm the breakout’s strength.
🔸 Risk Level at 100,000 USDT:
If Bitcoin fails to hold above this zone, potential downside targets could be 97,500 - 95,000 USDT.
🔸 Action Plan:
Long position: Consider entering if Bitcoin breaks and holds above the triangle resistance with strong volume.
Short position: A break below the support trendline may signal a downward move.
Stop-loss management: Implement risk controls based on market conditions.