What's cooking with Bitcoin? BTCUSDT

On the daily timeframe, BTCUSDT is forming a large ascending triangle pattern. There is strong resistance at the current all-time high (ATH) levels. We can expect multiple retests in this supply zone. If BTC consolidates within this range and positive sentiment persists, we may see a breakout to the $84,000-$85,000 levels. The trendline will act as interim resistance.

However, if negative sentiment prevails, there is a chance of breaking down from this pattern.

Both the momentum (10) oscillator and the 100-day Moving Averages are signalling bullish trends. This suggests potential upward movement in BTC’s price.