Bitcoin is currently respecting a clean trendline resistance following a bullish pennant formation. Price is holding firmly above the neckline breakout from the inverse head and shoulders (ISHS), confirming demand strength around the $111K–$113K region. The structure implies another 48% rally projection, mirroring the previous measured move, which points toward a potential target at $167K.
A breakout above the immediate diagonal resistance would likely trigger an impulsive continuation, replicating earlier moves from similar setups as annotated. Bias remains bullish while price holds above the neckline pivot.
Technical Confluence
Pattern Structure: Bullish Pennant + Retest of ISHS neckline
Market Geometry: Symmetrical move projection based on previous breakout leg
Momentum Flow: Higher lows forming against compressing resistance
Volume Expectation: Volatility expansion likely on breakout confirmation
Key Trendline: "Big move started when price break this TL"
Key Price Levels
• Support Zone: $111,800 – $113,000
• Confirmation Zone: Above $123,000
• Primary Target: 🎯 $167,000
• Invalidation Level: ❌ Below $105,000
Execution Plan
• Entry: Watch for bullish pennant breakout and retest of diagonal TL
• Trigger Method: Limit buy post-breakout or confirmation on volume surge
• SL: Just below $105K zone
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Attention: Our August Altcoin requests will be managed through this post. Kindly submit your preferred altcoins in the comment section below.
A breakout above the immediate diagonal resistance would likely trigger an impulsive continuation, replicating earlier moves from similar setups as annotated. Bias remains bullish while price holds above the neckline pivot.
Technical Confluence
Pattern Structure: Bullish Pennant + Retest of ISHS neckline
Market Geometry: Symmetrical move projection based on previous breakout leg
Momentum Flow: Higher lows forming against compressing resistance
Volume Expectation: Volatility expansion likely on breakout confirmation
Key Trendline: "Big move started when price break this TL"
Key Price Levels
• Support Zone: $111,800 – $113,000
• Confirmation Zone: Above $123,000
• Primary Target: 🎯 $167,000
• Invalidation Level: ❌ Below $105,000
Execution Plan
• Entry: Watch for bullish pennant breakout and retest of diagonal TL
• Trigger Method: Limit buy post-breakout or confirmation on volume surge
• SL: Just below $105K zone
📥 Let us know your thoughts in the comment section, and feel free to tag your preferred altcoins for analysis.
Attention: Our August Altcoin requests will be managed through this post. Kindly submit your preferred altcoins in the comment section below.
Trade active
Bitcoin continues to struggle above the neckline. If price holds, the bulls still maintain the upper hand, and the setup is expected to progress as anticipated.
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📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.