Bitcoin has broken out of a descending channel and is now approaching a potential buy zone between 105,176.89 and 104,845.01. This zone aligns with previous support and trendline confluence, making it a critical area to monitor for bullish reactions.
If price finds support within this zone and confirms with a bounce or bullish pattern, a move toward the 106,268.53 resistance is a possible scenario.
However, a confirmed break below 104,296.67 could signal a shift in momentum and potentially invalidate the bullish setup.
🔹 Buy Zone: 105,176.89 – 104,845.01
🔹 Bearish Invalidator Level: 104,296.67
🔹 Target Area: 106,268.53
🔹 Timeframe: 1H chart
🔹 Trend Context: Price broke previous bearish structure and entered a short-term bullish phase.
This is a technical observation for educational purposes only.
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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.