Bitcoin Depot Inc. (BTM) is setting up for a potentially explosive move as price action consolidates within a tightening triangle pattern. After a strong rally from mid-May, BTM found consistent support along an ascending trendline, recently bouncing and holding above this key area.
Currently, price is pressing up against a well-defined descending breakout line. A clear break and close above this trendline could signal the start of a new bullish leg, especially with analyst price targets near $7.00 suggesting further upside potential.
My Trade Plan:
Entry: Watching for a confirmed breakout above the descending trendline, ideally on higher volume.
Target: Analyst price target at $7.00, with potential for further extension.
Stop: Below the ascending support line or recent swing low to manage risk.
This setup shows strong momentum and a classic technical pattern. As always, I will wait for confirmation before entering, and will manage risk accordingly. This is not financial advice—please do your own research before trading.
Currently, price is pressing up against a well-defined descending breakout line. A clear break and close above this trendline could signal the start of a new bullish leg, especially with analyst price targets near $7.00 suggesting further upside potential.
My Trade Plan:
Entry: Watching for a confirmed breakout above the descending trendline, ideally on higher volume.
Target: Analyst price target at $7.00, with potential for further extension.
Stop: Below the ascending support line or recent swing low to manage risk.
This setup shows strong momentum and a classic technical pattern. As always, I will wait for confirmation before entering, and will manage risk accordingly. This is not financial advice—please do your own research before trading.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.