Alright team, let's break down this juicy Bitcoin chart and see what's cooking. The King is consolidating perfectly before what looks like the next major leg up!
Technical Analysis
The Daily chart shows BTC maintaining a perfect, long-term ascending trend channel. We just witnessed a healthy retest of the lower trendline support, currently holding strong around the $104,000 mark. This bounce confirms the robustness of the current bullish trend structure. If momentum continues, we anticipate a swift move back toward the channel median and eventually, the ultimate chart-based target defined at $150,000. Key downside horizontal support remains firm at $73,524.70.
Fundamental Analysis
Fundamentally, Bitcoin remains incredibly strong. Institutional demand continues to surge globally, evidenced by massive net inflows into US and international spot ETFs. This consistent institutional demand pressure, combined with favorable macro tailwinds and the tightening supply dynamics post-halving, provides a solid structural foundation for the technical ascent we see.
Action Plan
The current setup signals an excellent accumulation opportunity near the trendline support. We are looking for confirmation of this bounce to initiate or add to long positions, targeting $150k while maintaining strict risk management.
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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