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Bitcoin's 'Triangular Consolidation' Is Bullish: Technical Analysis
Such consolidations generally end with an upward breakout, one observer said.
Updated Nov 1, 2023, 3:35 p.m. Published Oct 31, 2023, 11:05 a.m.
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Bitcoin [BTC] appears to be consolidating into a triangular pattern, offering a positive outlook for the weeks ahead.
The leading cryptocurrency by market value has carved out higher lows and lower highs between $33,000 and $35,0000 in the past seven days, forming a triangle on the bitcoin price chart.
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Analysts and traders study price patterns to gauge momentum strength and forecast changes in market trends. Triangles tend to be continuation patterns, representing a pause that refreshes the preceding trend, which is bullish in BTC's case. The leading cryptocurrency rallied from $26,500 to $35,000 before starting its triangular behavior.
"Bitcoin is forming a triangle on the daily chart. It is generally believed that such consolidation formations end with an upward breakout," Alex Kuptsikevich, a senior market analyst at FxPro, said in an email.
According to Kuptsikevich, a move above $35,000 would confirm a bullish triangle breakout, signaling a continuation of the rally from $26,500.
Note that while triangles usually resolve in the direction of the preceding trend, they can sometimes end with a downside breakout, indicating a bearish trend reversal. Hence, it's imperative traders closely follow the price action over the next few days.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
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- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
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