Bitcoin Shatters Triangle Formation—Bullish Rally Accelerates Toward New Highs

Bitcoin just ripped through a critical technical pattern—and the bulls aren’t looking back.

The Breakout Heard ‘Round the Crypto World

After weeks of consolidation, BTC decisively breached its triangle formation, signaling the next leg up. No hesitation, no fakeouts—just pure momentum as institutional FOMO starts creeping back in.

Why Triangles Matter (And Why This One Failed)

These patterns typically precede explosive moves. This time? The upside won. Traders now eyeing the next resistance levels while skeptics mutter about ‘overbought’ conditions—classic Wall Street cope.

What’s Next?

With macro tailwinds and ETF inflows propping up demand, the path of least resistance remains… well, *up*. Though let’s be real—some hedge fund manager will still call it a ‘bubble’ between sips of their $28 latte.

Active traders: buckle up. Everyone else: maybe finally learn what a candlestick is.

$119,039 broke out upwards from its triangle formation. Despite strong upward movement in the Asian trading session being balanced by profit-taking in Europe and the US, as long as it remains above $116,817, the upward trend is maintained. The analysis highlighted that the upcoming Consumer Price Index (CPI) data expected to be announced at 15:30 Turkish time might weaken the anticipation of two rate cuts within the year. Despite this, it was noted that in a typically weaker seasonal period, prices might rise gradually instead of with strong momentum. Matrixport also indicated that funds continue to flow into the cryptocurrency market through various channels and that patient investors could be rewarded later in the year.

ContentsBitcoin Continues Strong After Breaking Triangle FormationPay Attention to the Upcoming US CPI Data

Bitcoin Continues Strong After Breaking Triangle Formation

Matrixport emphasized that Bitcoin has broken out upwards from its triangle formation, with the trend being confirmed as upward. Holding above $116,817 is characterized as a substantial breakout, while attempts to reach a peak at $122,282 are particularly noteworthy on the chart. The analysis generally depicts a bullish direction, though the risk levels are prominent.

On the chart, $116,817 emerges as a critical threshold, with the previous horizontal support marked at $111,944 and the lower region at $106,000. The attempt to reach a peak at $122,282 also stands out on the chart. These levels indicate the focus of buyers and sellers in the short term.

Pay Attention to the Upcoming US CPI Data

According to Matrixport’s analysis, today’s announcement of CPI data, which could exceed expectations, may weaken the expectation of two interest rate cuts within the year. Even if this scenario seems possible, in a seasonally quieter period, prices are expected to maintain a gradual upward trend rather than a parabolic acceleration. The direction appears upward, yet the pace remains controlled.

Matrixport stressed that capital inflows into the cryptocurrency market continue throughout the year through different channels. It was pointed out that patient and disciplined investors might be rewarded later in the year under these circumstances.

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