BTC/USDT Analysis. The price is currently bouncing off the mid-level of the channel, aiming for the upper resistance near $110,000.
$92,500–$95,000 (green area): This is a strong horizontal support area that aligns with the lower boundary of the channel. It has been tested multiple times and is holding well.
A breakdown below this area could signal a move towards $85,000 or lower.
$100,000 (psychological resistance): A crucial level that needs to be cleared for the uptrend to continue.
$110,000: Upper channel resistance and next major target.
The 21-MA (black line) is acting as immediate support, while the 50-MA (red line) is moving upwards, indicating bullish momentum.
Bitcoin recovering and continuing to stay above the moving averages is a positive sign.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your research and consult a financial advisor before making investment decisions.
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