Bitcoin Price Breaking Out Of This Pattern — Can BTC Reclaim $90,000?

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Bitcoin Price Breaking Out Of This Pattern — Can BTC Reclaim $90,000? - NewsBTC

Quick Summary:

The price target for an ascending triangle pattern is determined by adding the vertical distance between the horizontal and rising trendlines to the breakout point. A Bitcoin price leap to $90,000 would represent an almost 7% move from the current price point.

The ascending triangle is a pattern in technical price analysis featuring an inverse right-angled triangle with a horizontal upper boundary (connecting a series of lower highs) and a diagonal rising lower trendline (connecting the swing lows).

However, an ascending triangle formation can also serve as a trend reversal pattern and a bearish signal — when the asset’s price breaks down the lower trendline and in the opposite direction of the initial uptrend.