BTCUSDT – Squeezed enough, ready to explode?

Bitcoin is currently trading within a converging triangle pattern – a setup every trader knows often signals an imminent breakout. The price is sitting between the EMA 34 and EMA 89, consolidating right above the long-term ascending trendline, indicating that buying pressure is still quietly in control.

The 105,000 – 106,000 USDT area is the key resistance zone to watch. If BTC breaks through this level decisively, it could trigger a new bullish wave aiming for 110,000+.

On the news front, market sentiment has turned optimistic again after the SEC Chairman hinted at the possibility of approving more Bitcoin ETFs in the upcoming quarter. This has given a strong psychological boost to the buying side.