BTCUSD daily chart shows price action respecting a rising trendline, following a successful breakout from previous pattern. This ascending trendline now acts as a key dynamic support and serves as a central guide for the medium-term bullish structure.
Currently, price is consolidating just below the $107,000 resistance area. There are two primary scenarios to consider:
Bullish Scenario:
A confirmed breakout and daily close above the $107,000 resistance could trigger another bullish leg, targeting the next level near $120,000.
Mild Bearish / Pullback Scenario:
If the price gets rejected again, it may retrace towards the ascending trendline around $95,000, which aligns with previous horizontal support and could serve as a solid buy-the-dip zone.
Trade Plan:
Currently, price is consolidating just below the $107,000 resistance area. There are two primary scenarios to consider:
Bullish Scenario:
A confirmed breakout and daily close above the $107,000 resistance could trigger another bullish leg, targeting the next level near $120,000.
Mild Bearish / Pullback Scenario:
If the price gets rejected again, it may retrace towards the ascending trendline around $95,000, which aligns with previous horizontal support and could serve as a solid buy-the-dip zone.
Trade Plan:
- Buy Entry Option 1: On a breakout above $107,000 → Target: $120,000
- Buy Entry Option 2: On a bounce from the trendline near $95,000
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