Bitcoin Forms Ascending Triangle as Resistance Leads to Volatile Trading

Bitcoin's Market Structure: Bitcoin remains within an ascending triangle pattern, facing resistance that leads to choppy trading sessions and limited momentum, with higher lows attracting buyers but repeated rejections at the upper resistance zone.

Price Movement and Liquidations: BTC is trading around $89,964 after a gradual decline from above $91,000, with a total of $210M in liquidations over 24 hours affecting both long and short positions, indicating high volatility in the market.

Market Sentiment and Trading Volume: The market cap has decreased to $1.79T, with a 1.52% drop, while trading volume increased by over 7%, suggesting active participation despite cooling volatility and a defensive near-term sentiment.

Liquidation Trends: Recent data shows significant liquidations, particularly among long positions, with a total of $210.46M liquidated in the last 24 hours, reflecting traders' responses to compressed market conditions and sudden price reversals.