$BTC 🧠 Market Context: Bear Trap and Bullish Continuation

Bitcoin’s recent dip below the ascending channel’s support was a classic bear trap—a deceptive move that lured in short sellers before swiftly reversing upward . This false breakdown suggests smart money accumulation and sets the stage for a bullish continuation

📈 Technical Overview

• Current Price: $102,817

• Trend Structure: Maintaining higher highs and higher lows within an ascending channel .

• Support Zone: Around $100,000, which has held firm during recent tests.

• Resistance Target: Approximately $112,500, aligning with the channel’s upper boundary and a significant liquidity cluster.  

🎯 Trading Strategy

• Entry Point: Consider entering long positions near the channel’s lower support, around $100,000, where previous bear traps have occurred

• Target: Aim for the $112,500 level, coinciding with the channel’s upper resistance and a major liquidity zone.

• Risk Management: Place stop-loss orders just below the recent swing low to mitigate potential downside

📊 Indicators and Market Sentiment

The market’s reaction to the recent false breakdown, combined with sustained higher lows, indicates strong bullish momentum. Volume analysis and candlestick patterns, such as bullish engulfing formations, further support the likelihood of continued upward movement

🔍 Summary

Bitcoin’s price action suggests a bear trap has occurred, with the market poised for a bullish continuation toward the $112,500 target. Traders should monitor key support and resistance levels, employ prudent risk management, and stay informed on market developments$BTC