Bitcoin: Ascending Triangle Forms on Daily Chart

Bitcoin is forming an ascending triangle on the daily chart, a bullish reversal pattern at the base of the downtrend according to trader @TATrader_Alan.

Flat horizontal resistance and rising higher lows create tightening compression, consistent with Bitcoin ascending triangle pattern historical outcomes where such setups have preceded breakouts after extended declines.

Reliability of ascending triangles as reversal signals in crypto remains high when volume builds at support, setting up a potential BTC price prediction of upside continuation once resistance breaks.

Price action on the 4-hour chart shows BTC at $63381.94 below the EMA50 resistance at $64227.5 and EMA200 at $63725.67, with MACD at -298.09 confirming a death cross while RSI at 37.62 stays neutral inside the Bollinger band bounded by $65398.13 upper and $62916.49 lower; this confluence points to a likely test of the 50-EMA before any sustained move higher.