Bitcoin’s Ascending Triangle Signals Bullish Momentum

• Bitcoin is forming an ascending triangle on the daily chart.
• A breakout above resistance could push BTC beyond $108K.
• Support at the trendline is crucial for the bullish momentum.

Bitcoin is showing strong bullish signs as it forms an ascending triangle pattern on the daily chart. This technical pattern is widely regarded as a bullish continuation setup, often leading to significant price increases when confirmed by a breakout.

The price has consistently found support along the upward-sloping trendline, reinforcing bullish sentiment. If Bitcoin maintains this trend and buyers hold the current level, we could see a move toward the critical horizontal resistance near $108K. A successful breakout from this level could further propel BTC into price discovery mode.

The Importance of Support and Resistance

An ascending triangle pattern consists of higher lows and a relatively flat resistance level. In Bitcoin’s case, the horizontal resistance zone is around $108K, which has acted as a key level in previous price actions. If Bitcoin continues to respect the support trendline, buyers might gain enough strength to push through resistance, confirming the bullish breakout.

Traders and analysts will be closely watching for a surge in trading volume as a breakout above $108K could indicate further upside. Conversely, if Bitcoin fails to hold the support line, a breakdown could invalidate the bullish pattern, leading to potential downside risks.

Will Bitcoin Hit $108K and Beyond?

With market sentiment leaning bullish, Bitcoin’s price action in the coming days will be crucial. A confirmed breakout from the ascending triangle could open doors to new highs, while a failure to hold support may trigger short-term corrections.

Investors should keep an eye on key resistance levels and monitor volume spikes to gauge market direction. If BTC breaks past $108K, the next phase of the bull run could be in motion.