$BTC Price is currently trying to break out of the ascending triangle / double bottom.



The last time we saw this pattern after a leg down, a 20% pump followed shortly after the breakout.

The technical target of this formation is around 70k, which sits right inside a daily imbalance.

One of my favored scenarios at the moment is a move higher followed by a rejection from that imbalance.

That said, I’d much rather see this breakout happen next week than over the weekend.

Weekend breakouts tend to be less reliable and have a higher chance of being a fakeout.
BTC0.19%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Comment
Add a comment
Add a comment
KiteRerouter
· 1h ago
That 70k daily gap is definitely a tough nut to crack; there's a good chance it gets rejected again after pushing up.
View OriginalReply0
GateUser-8d51653b
· 2h ago
Double bottom + ascending triangle, a classic bullish combination. Hope this time it doesn't fool me.
View OriginalReply0
OnchainComplainer
· 2h ago
20% pump sounds very tempting, but with such poor liquidity over the weekend, I really don't dare to chase.
View OriginalReply0
PerpPulse
· 2h ago
There are indeed too many weekend holiday breaks. I was scammed once last time, so this time I prefer to wait until next week to confirm.
View OriginalReply0
  • Pinned