Lingrid | BITCOIN Price Squeeze: Tension Builds for a BREAKOUT

16. Sept.

BTCUSDT appears to have found support in the 54000 - 53800 area, as evidenced by three fake breakouts on the daily timeframe. This indicates that this level holds significant importance; each time the price dipped below 53800, it closed above it afterward. I believe the market may remain in a range until the Federal Reserve's rate cut decision on Wednesday. Currently, we are seeing the formation of a giant triangle pattern characterized by a series of lower highs and higher lows, suggesting that the price is coiling up in before an extension. Given this setup, I expect the market to oscillate within this range until we receive clarity from the Fed's decision. The tension in the market could lead to a volatile breakout in either direction once the decision is announced. My target is resistance zone around 65000


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