BITCOIN at Key Support – Ready to Bounce to $94,000?

3 hari yang lalu

BTCUSD is trading at a key demand zone, which has previously acted as strong support within the ascending channel. The recent retracement has brought the price back into this area, increasing the probability of a bullish reaction. The confluence of the support zone and the ascending trendline suggests that buyers may step in to regain control.

If price confirms support within this zone, we could see a bullish continuation toward the $94,000 level, aligning with the channel’s midline and the next major resistance. However, a failure to hold this level could invalidate the bullish bias and signal a potential shift in momentum.

Traders should monitor for bullish confirmation signals, such as rejection wicks, bullish engulfing patterns, or increasing buying volume, before considering long positions. A breakout above minor resistance levels along the way could further strengthen the bullish outlook.

If you agree with this analysis or have additional insights, feel free to share your thoughts! 🚀

3 hari yang lalu

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