Bitcoin: Ascending Triangle Suggests Upward Breakout 🚀

The Bitcoin chart is forming an ascending triangle, a classic technical pattern that historically has a high probability of breaking out to the upside. Let’s analyze the reasons behind this thesis:

1. Ascending Triangle Formation

The price is consolidating within a horizontal resistance around $101,565 and an ascending support line.

The resistance has been tested several times, signaling a buildup of sell orders in this range.

The ascending line shows that buyers are willing to pay increasingly higher prices, reducing the pullback margin and putting pressure on sellers.

This setup is typical of accumulation before significant breakouts.

2. Decreased Volatility: The Omen

Price swings are getting narrower as Bitcoin approaches the apex of the triangle.

Reduced volatility often indicates what many call the “calm before the storm.”

Historically, these periods of volatility compression are followed by price explosions, driven by liquidations of positions and entry of new players.

3. Resistance Under Pressure

The resistance at $101,565 has been tested several times in recent weeks.

Each retest weakens this barrier as sellers are absorbed by buyers.

Meanwhile, ascending support continues to ensure that the price does not retreat, maintaining upward pressure.

Conclusion

If Bitcoin breaks the resistance at $101,565 with strength, the next technical target could take the price to new local highs, driven by the ascending pattern and increasing volume.

Keep an eye on the volume at the breakout: it will be the trigger to confirm the thesis! 💥$BTC #TopCoinsSeptember