#BTC $BTC
It is likely to head towards 96,700
The BTC USD pair maintains the buyers' area - from
Hello traders, here is my technical analysis for the BTC USD pair based on the current market structure. After a long decline, the price of Bitcoin rebounded from the support level and broke through the descending channel, shifting momentum in favor of buyers, and then the price moved within a consolidation range, where an accumulation area was formed before a confirmed breakout led to a rise in the price of Bitcoin. Since then, the price of Bitcoin has respected the ascending triangle support line, creating higher highs and higher lows. Buyers continuously defend this structure, maintaining the bullish trend intact despite local corrections. Currently, the price of Bitcoin maintains its position above the buyers' area between 90,500 and 88,800, which is the main demand area that keeps upward pressure as long as the price remains above this area, the bullish scenario remains in play. The market is now heading towards the main resistance level at 96,700, which lies within the broader sellers' area. A breakout above this level may open the door to further upside, while a rejection may lead to a pullback towards the triangle support line. Currently, the structure supports buyers, with 96,700 being the bullish target.
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