BTC/USDT: Two Possible Extended Situations in the Ascending Channel
Here, there are two possible outcomes: Breakout Continuation (Aggressive Long Entry) is the first scenario. ·Entry Zone: Approximately between $103,000 and $104,000, the current pricing Reasoning: The price is currently surging higher with significant velocity after recovering from the channel's lower boundary. With hopes that Bitcoin would keep rising in the direction of the channel's upper resistance line, an aggressive long position may be taken into consideration. • Target Zone (shown in the yellow box): $110,000–$114,000.
Scenario 2: Conservative Long Entry Pullback to Support Entry Zone: $96,000–$99,715 •Justification: A sound correction might return the price of Bitcoin to a crucial demand area, which would be in line with the lower trendline and horizontal support levels, if it encounters rejection close to current levels or the channel's midline. • Target Zone: The same channel's upper border ($110,000–$114,000.)
