$BTC is still holding the bigger long bias, but it’s getting tight inside this multi-year triangle.

Price has been compressing for months, and the next move looks like it wants to clear the overhead ceiling rather than keep grinding sideways forever. I’m watching the upper resistance line closely, because that’s the level that has capped every expansion attempt so far.
The bigger story is that supply looks thin underneath. Exchange balances have been drying up while the market keeps digesting the Fed noise, so the sell side hasn’t been getting much help from actual available supply.
If bulls can push through that long-term cap, the move opens room toward the next macro rail. If not, this stays a slow squeeze until price finally gets enough momentum to leave the triangle behind.