BTCUSD 4H Triangle Compression. Watch for Breakdown Below 100.7K

Bitcoin is currently trading within a well-defined symmetrical triangle on the 4H timeframe, showing tightening price action between lower highs and rising support. The price is compressing just under the triangle resistance (~104.4K) and approaching a key decision point.

Key Technical Observations:
• Structure: Symmetrical triangle
• Support: ~100,762 (also aligns with 55 SMA on higher timeframe)
• Resistance: Descending trendline capped at ~104,400
• RSI: Sitting at 51.26, indicating indecision
• Volume: Modest increase, not yet showing breakout conviction
• 0.5 Fib retracement level lies at 99,585, potential first support on breakdown

What I’m Watching For:
• A 4H or preferably daily candle close below ~100,762
• RSI dropping below 40 to confirm bearish momentum
• Volume spike to validate breakout strength

If Confirmed Breakdown:
• TP1: 99,585
• TP2: 98,000 zone
• SL: High of breakdown candle or above prior structure highs (~104K)
• Bearish momentum needs to be strong to avoid false breakdown traps

This is not a trade yet—just a technical setup in play. Watching for confirmation before engaging.

Time to stay patient.