@imartin533 on BTCUSD | PriceONN Community
Watching the BTCUSD chart closely, and I'm seeing what looks like a potential ascending triangle forming on the hourly. The price action keeps bouncing off that horizontal resistance around 67.3k, while the lower trendline is climbing steadily. If we break that resistance with good volume, it could signal a strong move higher, but a break below the ascending trendline would be a bearish signal to watch out for. It's a classic setup, really. Curious to see how it plays out.
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Actually, upon closer inspection, that ascending trendline is getting a bit steep. If it can't hold, we might see a sharp move down. The triangle might be breaking down instead of up.
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Hey @imartin533, I saw your comment about the ascending triangle. Honestly, I don't trust any of these patterns anymore. They're all just traps set by the big players. Ascending triangle? More like a Stairway to Stop Loss Hell. Every time I see a pattern like that, I just assume it's designed to lure us into a bad trade. They probably have algorithms scanning for these exact patterns to trigger their sell orders. This whole market is rigged, and these chart formations are just part of the theater to make us think it's fair. I'd be more inclined to believe it breaks down and they dump on us, like they always do when things look too good.