Alright team, let's break down this juicy $BTC chart and see what's cooking. The daily chart presents one of the clearest high-conviction long setups we've seen this quarter.
### Technical Analysis
Bitcoin has perfectly retested the confluence of its major ascending support channel (the green zone) and the critical horizontal support level around $110,000. The bounce from this area indicates strong institutional interest defending the trend structure. We are positioned for continuation. Critical downside protection (stop area) sits below the channel, specifically around $98,000. If this established structure holds, the path is clear for a major impulse move toward our primary target of $170,000.
### Fundamental Analysis
Fundamentally, Bitcoin is extremely bullish. Institutional accumulation via global Spot BTC ETFs remains consistently positive, continuing to absorb available supply from the market. Network security (hash rate) is at all-time highs, reinforcing confidence in the underlying asset's longevity, further boosted by stabilizing global macro conditions.
### Action Plan
This is a clear opportunity to accumulate positions at a high-conviction support level. We maintain a high degree of confidence in the sustained bullish trend, targeting significant expansion.
Highly recommend HOLD and Stacking $BTC at Binance.
Feel free to comment the altcoin you are holding and we will check it for you!
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