Analysis:
Trend Structure: After a corrective decline from the $124K resistance area, BTC has rebounded strongly, forming a rising channel (highlighted in blue).
Support Levels: Strong demand observed near $107,200, aligning with the 0.868 Fibonacci retracement, making it a crucial support zone.
Buy Zone: Chart highlights the $114K–$116K range as a buy zone before continuation of the upward trend.
Resistance Levels: Key resistance remains around $124K–$126K, which is the next major target if the bullish momentum sustains.
Outlook: As long as BTC stays above $114K support, the bias remains bullish, with a potential rally towards $120K–$124K. A breakdown below $112K would invalidate the bullish scenario.
✅ Bias: Bullish continuation
🎯 Targets: $120,000 → $124,000
🛑 Invalidation: Break below $112,000
Trend Structure: After a corrective decline from the $124K resistance area, BTC has rebounded strongly, forming a rising channel (highlighted in blue).
Support Levels: Strong demand observed near $107,200, aligning with the 0.868 Fibonacci retracement, making it a crucial support zone.
Buy Zone: Chart highlights the $114K–$116K range as a buy zone before continuation of the upward trend.
Resistance Levels: Key resistance remains around $124K–$126K, which is the next major target if the bullish momentum sustains.
Outlook: As long as BTC stays above $114K support, the bias remains bullish, with a potential rally towards $120K–$124K. A breakdown below $112K would invalidate the bullish scenario.
✅ Bias: Bullish continuation
🎯 Targets: $120,000 → $124,000
🛑 Invalidation: Break below $112,000
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.