Hello everyone, here is my breakdown of the current BTCUSDT setup.
Market Analysis
BTCUSDT previously traded inside a wide range before breaking above resistance and starting a strong recovery. Price later formed a large ascending triangle, supported by a rising trendline while remaining capped below the 65,600 Resistance Zone.
Currently, BTCUSDT is trading above the 63,600 Support Zone while consolidating below the descending triangle resistance line. The structure remains constructive as buyers continue to defend the key support area.
My Scenario & Strategy
As long as BTCUSDT holds above the 63,600 Support Zone and respects the ascending trendline, the bullish scenario remains valid. A continuation higher could push price toward the 65,600 Resistance Zone (TP1).
However, if BTCUSDT breaks below the 63,600 Support Zone and loses the rising trendline, the bullish outlook would weaken and sellers could regain control.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.