Alright team, let's break down this juicy BTC/USDT chart and see what's cooking. The daily timeframe is painting a picture of massive conviction after successfully defending a critical level.
### Technical Analysis
We have successfully defended the crucial long-term ascending Support Zone. This recent bounce occurred precisely off the lower boundary of the channel, maintaining the macro bull trend. The immediate key horizontal support level to watch is $101,284. As long as we hold above this, the path of least resistance is definitively up. The chart clearly outlines a major structural Target at $170,000.
### Fundamental Tailwinds
On the fundamental side, institutional adoption remains incredibly strong. We are seeing persistent, consistent net inflows into US Spot ETFs, proving that deep-pocketed traditional finance players are accumulating Bitcoin during dips. This sustained institutional demand acts as a powerful and reliable backbone for this bullish technical setup.
### Action Plan
This strong bounce provides an excellent opportunity for accumulation within the established support channel. Traders should look to manage risk with a tight stop below the $100,000 psychological level, targeting the major resistance overhead at $170,000.
Highly recommend HOLD and Stacking BTC at Binance.
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