The Bitcoin to US Dollar (BTC/USD) pair is currently trading within a clear ascending channel on the 4-hour timeframe, after a strong bounce from a key support level at $115,400. This price action reinforces the positive technical structure and suggests the likelihood of continued upward momentum in the coming days.
🔍 Market overview
- Current price: $116,256.18 (+0.94%)
- Open interest in futures contracts is rising, reflecting the entry of new liquidity
- Buyers are reacting strongly from the support area, reinforcing confidence in the upward trend
💼 Technical setup
- Trend: bullish within an ascending channel
- Key support: $115,400 – important bounce point
- Resistance targets:
- $119,500 – mid-channel target
- $122,600 – strong resistance and previous supply area
📌 Supporting technical signals
- The ascending channel remains intact
- Price shows higher lows and higher highs
- Upward momentum is supported by increasing trading volume
- Moving averages support the positive trend
⚠️ Invalidating level
A clear break below the $115,400 level could invalidate the bullish structure and indicate a potential deeper correction or trend change
📊 Summary of forecasts
The BTC/USD pair is still in a strong bullish trend, supported by buyers entering from the key support area. The next targets are at $119,500 and $122,600, provided that momentum continues and the critical support is not broken.
🔐 Reminder of risk management:
Set a suitable stop loss below support, and monitor price movement near resistance to spot any reversal or continuation
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