BTC/USDT 8-Hour Chart Observation



Bitcoin's been stuck in this symmetrical triangle pattern for a while now. Price action? Hovering right around mid-range – not committing to either side yet.

Here's what's happening: the 50-period moving average is keeping a lid on things from above. Every time bulls try to push through, they're getting rejected at that level. Meanwhile, buyers keep showing up at the lower trendline – defending it pretty stubbornly.

Sellers are camping out near the upper boundary too. Classic squeeze setup. Both sides are active, neither willing to give ground. The triangle's tightening, so something's gotta give eventually. Just watching where the breakout lands when it does.
BTC2.28%
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
  • 7
  • Repost
  • Share
Comment
0/400
SerumSquirtervip
· 5h ago
Wait for a breakthrough before going long or short
View OriginalReply0
BrokeBeansvip
· 12-09 09:54
Whether it's a bull or a bear, let's wait and see.
View OriginalReply0
WhaleShadowvip
· 12-09 09:49
Sideways consolidation waiting for breakout direction
View OriginalReply0
PumpAnalystvip
· 12-09 09:44
The market is about to break out.
View OriginalReply0
airdrop_whisperervip
· 12-09 09:35
The breakthrough is just around the corner.
View OriginalReply0
MondayYoloFridayCryvip
· 12-09 09:31
Finally made it to liberation.
View OriginalReply0
LootboxPhobiavip
· 12-09 09:27
A breakout is inevitable after a triangle consolidation.
View OriginalReply0
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)