It seems that BTC is forming an ascending triangle pattern. The price is currently moving towards the support zone, around 62K. If this support remains intact, we can anticipate the next target for the price to be in the 71K to 72K zone.
Considering the expected bull market after the recent bitcoin halving, it's highly probable that the support will hold, causing the price to rebound from the support zone.
If the support from the ascending triangle breaks, we could see the bitcoin price drop to the 60K zone.
We'll see how this develops. Stay tuned for more updates.
Follow our TradingView account for more technical analysis updates. Don't forget to like, share, and comment on your thoughts.
Best,
GreenCrypto
Considering the expected bull market after the recent bitcoin halving, it's highly probable that the support will hold, causing the price to rebound from the support zone.
If the support from the ascending triangle breaks, we could see the bitcoin price drop to the 60K zone.
We'll see how this develops. Stay tuned for more updates.
Follow our TradingView account for more technical analysis updates. Don't forget to like, share, and comment on your thoughts.
Best,
GreenCrypto
Catatan
Price has breached the support line, I hope it recovers before the daily candle close to see some positive strength
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