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.
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SerumSquirter
· 5h ago
Wait for a breakthrough before going long or short
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BrokeBeans
· 12-09 09:54
Whether it's a bull or a bear, let's wait and see.
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WhaleShadow
· 12-09 09:49
Sideways consolidation waiting for breakout direction
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PumpAnalyst
· 12-09 09:44
The market is about to break out.
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airdrop_whisperer
· 12-09 09:35
The breakthrough is just around the corner.
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MondayYoloFridayCry
· 12-09 09:31
Finally made it to liberation.
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LootboxPhobia
· 12-09 09:27
A breakout is inevitable after a triangle consolidation.
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.