According to ChainCatcher, crypto analyst Ali Charts said in a post that Bitcoin is approaching a breakout. He is currently watching a symmetrical triangle structure forming in BTC, with resistance located at $63,000 and support located at $61,000. In his view, this price band will determine the direction of Bitcoin’s next move.
The $61,000 to $63,000 Range Becomes the Key Technical Zone
Ali Charts stated that if BTC posts a valid hourly close outside this range, the release of momentum could trigger an approximately 10% price expansion. That places the area between $61,000 and $63,000 at the center of the current technical setup, as a break above resistance or below support would provide the next directional signal.
He also said traders should closely monitor changes in trading volume near the boundaries of this range in order to identify early signs of a sustained breakout. In this setup, volume behavior around the support and resistance lines is being used as a confirmation factor for whether the move can continue after price exits the triangle.