Bitcoin breaks through the key triangle area, 94000 becomes the battleground for bulls and bears, how will the market develop? We will analyze it from three time frames!
The weekly chart for Bitcoin shows a three consecutive bullish structure, confirming a bullish pattern. After this week closes positively, it is expected to break through the weekly downtrend line. The daily chart has completed a key breakout from the triangle consolidation and downtrend line, and the current price encountered resistance after approaching the 94,000 level, pulling back to confirm support at the trend line. If it stabilizes on the pullback, it will restart upward momentum. The daily MACD and RSI maintain a golden cross, supporting further upward movement.
On the four-hour level, Bitcoin's larger structure is in a fluctuating upward channel, having broken through the local downtrend channel in the short term, forming a bullish flag pattern with a theoretical target around the upper channel line near 97,000. At the same time, attention should be paid to whether the triple bottom neckline near 94,000 can be broken. If effectively above, it is expected to open up greater space towards the 104,000–106,000 area. On the downside, support should be observed at the channel midline 91,500 and lower line 86,500; as long as these levels hold, the upward structure remains intact.
Intraday trading suggestion:
Long near 90500-91500, target 93000-93500
Today's focus: $BTC
