Bitcoin Squeezes Into Symmetrical Triangle – Which Way Next?

Bitcoin has gone quiet — but not for long. Since the start of July, the world’s leading cryptocurrency has been trading sideways, consolidating within a symmetrical triangle pattern. The structure, marked by converging blue trendlines, reflects a steady decline in volatility as price compresses toward the apex.

This kind of setup typically precedes a significant breakout. The longer the price coils, the more explosive the eventual move tends to be.

Right now, the market is in wait-and-see mode. The breakout direction will likely define Bitcoin’s next major leg.

A break to the upside from this triangle would trigger a buy signal, opening the door for a new bullish wave. That would signal renewed momentum and likely draw buyers back into the market after a quiet few weeks.

On the flip side, a breakdown below the triangle, especially if it’s accompanied by a clear move under the yellow horizontal support, would shift sentiment sharply bearish. That would be a signal to go short, with potential for a deeper correction.

The technicals are clear. It’s just a matter of which side gives first. Until then, the market is tightening the spring.

Source: https://www.axiory.com/analytics/technical-analysis/bitcoin-squeezes-into-symmetrical-triangle-which-w