Bitcoin (BTC/USDT) 4H Analysis: Breakout Toward 110K?
Key Observations:
1. Ascending Triangle Formation:
BTC is forming an ascending triangle pattern, a bullish continuation setup.
A breakout above resistance could lead to a strong upward move.
2. Key Levels:
Resistance Zone: ~108K–110K (highlighted in red).
Support Zone: ~104K–105K.
200 EMA Support: Currently at $100,528, acting as a strong dynamic support.
3. Potential Scenarios:
Bullish Breakout: If BTC holds above 104K and breaks resistance near 108K, it could rally toward 110K and beyond.
Rejection & Retest: If BTC faces rejection, a pullback to 104K or even the 200 EMA (100.5K) could occur before another attempt higher.
Conclusion:
Bullish bias remains intact as long as BTC holds above 104K.
A confirmed breakout above 108K–110K could trigger a move toward new highs.
Watch for volume confirmation on a breakout to validate the uptrend.