Bitcoin: Bullish Continuation Within Ascending Channel

Nov 6

hello guys.

The BTC/USDT 4-hour chart indicates a strong bullish trend, with Bitcoin trading within an established ascending channel. The price has been respecting both the upper and lower trendlines, creating potential upward scenarios. Here’s an in-depth technical analysis:

Ascending Channel: Bitcoin is steadily moving within an ascending channel, with higher highs and higher lows. This suggests a continuation of bullish momentum unless there is a decisive breakdown.

Potential Scenarios:

1. Scenario 1: The price could continue rising within the channel, reaching the next resistance levels around $76,000 and potentially $79,978.02, as shown on the chart.
   
2. Scenario 2: A pullback to the channel's midline or lower support could occur before the next leg up, providing potential entry points for buyers.
   

Fibonacci Levels: The price has respected key Fibonacci retracement levels, indicating areas of interest for potential support and resistance.

Key Levels:
Support: Around $72,000, which aligns with the mid-channel zone.
Resistance: Immediate resistance around $76,000, with an extended target near $79,978.02.

Nov 8

Trade active

the scenario1 is running

Nov 10

Trade closed: target reached

targets touched
#btc #btcusdt