BTCUSD is trading within a well-defined ascending channel, with price action consistently respecting both the upper and lower boundaries. The recent bullish momentum indicates that buyers are in control, suggesting a potential continuation toward higher levels.The price has broken above a key resistance zone and successfully retested it as support, confirming the bullish structure. This retest strengthens the case for further upside, with the next target aligning with the upper boundary of the channel near $91,000.
As long as the price remains above this newly established support, the bullish outlook stays intact. However, if the price fails to hold above this zone, a deeper pullback toward the midline or the lower boundary of the channel could come into play.
Remember, always confirm your setups and trade with solid risk management.
Best of luck!
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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.