BTCUSDT Technical Analysis – 1D Chart
Bitcoin has successfully broken out of a descending resistance trendline and is now holding above the key horizontal support around $94,900. The price is currently trading at $96,595, showing a bullish continuation setup.
Key Levels:
Support Zones: $94,963 – $92,021 and $88,820
Resistance Zones: $99,471 (minor), followed by $106,047 and $109,537 (major targets)
Structure Highlights:
Retest of broken resistance confirms bullish breakout
200-day MA crossover completed in April, adding momentum
Price is now forming a bullish flag/pennant structure with upside breakout potential
Bias: Bullish continuation Short-term Target: $99.5K
Mid-term Target: $106K – $109K
Psychological Resistance: $100K
Watch for volume confirmation and invalidation below $92K.