Bitcoin's expanding triangle pattern signals volatility; watch for a breakout or potential downside risks.
Bitcoin’s expanding triangle pattern signals high volatility, setting the stage for a breakout or drop.
This formation, characterized by a broadening price action, suggests market indecision with increasing volatility. Bitcoin’s lower boundary around $49,130 and previous lows at $53,219 are crucial support levels to monitor. A break below these points could indicate further downside risks, potentially leading to more significant losses., showing a slight 0.01% gain in the last 24 hours and a 2.85% increase over the past week.
Conversely, failure to maintain this level may result in a pullback towards the middle band near $60,355.Momentum indicators, such as the MACD, show a bullish stance with the MACD line above the signal line and in positive territory.
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