This chart is a **BTCUSD (Bitcoin to US Dollar)** analysis on the **30-minute timeframe**
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### 1. **Key Levels and Zones** - **Resistance Zone (Blue):** - This area is marked between **102,572** and **103,591**. - BTCUSD has previously attempted to break through this zone multiple times but has been rejected, as shown by the highlighted circles at the top. - If Bitcoin breaks above this level and closes above 103,000, it could signal a potential **bullish breakout** toward new highs.
- **Support Zone (Green):** - Key support is located between **98,956** and **99,318**. - BTCUSD has previously rebounded from this support level, as indicated by the blue circles near the bottom. - This zone aligns with the ascending trendline, which suggests **higher lows** and ongoing bullish momentum.
- **Demand Zone (Red):** - The red zone between **96,215** and **96,450** acts as a **strong support area**. - If BTCUSD fails to hold the green zone, price might retrace toward this area, making it a key demand zone for buyers.
- **Low-Level Support (Yellow):** - A final support near **94,229**. - This level is likely to act as the last line of defense for bulls in case of a sharp downturn.
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### 2. **Trendlines** - **Ascending Trendline:** - A diagonal trendline starting from the lows in the red zone (around December 10) continues to support BTCUSD's bullish trajectory. - This trendline has been tested multiple times and continues to provide upward momentum.
- **Projected Path:** - A black arrow indicates the anticipated market movement. - A possible scenario is BTCUSD testing the blue resistance zone again. If rejected, it may bounce off the ascending trendline before attempting another breakout. - A **successful breakout** above **103,591** could initiate a continuation of the bullish trend.
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### 3. **Market Structure** - BTCUSD is currently in an **uptrend**, forming a series of **higher highs** and **higher lows**. - Price action suggests consolidation near the **resistance zone** as buyers and sellers battle for control.
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### 4. **Scenarios to Watch** 1. **Bullish Breakout:** - If BTCUSD breaks above **103,591** with strong volume, it could trigger a continuation rally. - Traders may look for a retest of the resistance zone (now turned support) to confirm the breakout.
2. **Bearish Rejection:** - A rejection from the **102,572 - 103,591** area could push BTCUSD back toward the **green support zone** around **99,318**. - Failure to hold this level may lead to further downside toward the **red demand zone** (96,215 - 96,450).
3. **Trendline Retest:** - The ascending trendline is a key level for bullish momentum. - A successful bounce off this trendline would confirm buyers are still in control.
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### 5. **Summary and Recommendations** - **Current Sentiment:** Slightly bullish as BTCUSD maintains higher lows and respects the ascending trendline. - **Key Resistance:** **102,572 - 103,591** (blue zone). - **Key Support:** **98,956 - 99,318** (green zone). - **Bullish Trigger:** Breakout above **103,591**. - **Bearish Trigger:** Break below **98,956**, leading to **96,215**.
Traders should monitor volume and price action near the blue resistance zone and ascending trendline for further confirmation.
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