Technical analysis by Youriverse about Symbol BTC: Buy recommendation (5/1/2025)

Over the past week, Bitcoin (BTC) has shown notable strength, forming an ascending triangle pattern, a typically bullish structure that often resolves to the upside. True to form, BTC has now broken out above the triangle's resistance, pushing higher with strong momentum.-------------------------------Price target ascending triangleThis breakout sets a technical price target above $98,000, suggesting there’s still significant upside potential if the pattern plays out fully. However, the rally is now approaching a critical test.-------------------------------Golden Pocket + POCBTC is currently moving into a zone of strong resistance, both the Golden Pocket Fibonacci retracement level and the Point of Control (POC) from recent months converge in this area. These technical levels often act as magnets for price and can serve as significant barriers, potentially leading to a pullback or consolidation.-------------------------------Stochastic RSIAdding to the caution, the daily Stochastic RSI remains in overbought territory, where it has lingered for an extended period. While this doesn’t guarantee an immediate reversal, it does suggest that a corrective move could be on the horizon.-------------------------------ConclusionStill, there's a chance BTC could first push toward the psychologically significant $100K level before any major retracement occurs. Traders should keep a close eye on how BTC behaves around this key resistance area, confirmation or rejection here will likely shape the next major move.-------------------------------Thanks for your support.- Make sure to follow me so you don't miss out on the next analysis!- Drop a like and leave a comment!