Technical analysis chart for BTC/USD on the 1D (Daily) timeframe

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Technical analysis chart for BTC/USD on the 1D (Daily) timeframe from BITSTAMP. Here’s what I observe:

• Trend & Channel:

• The price is moving within an ascending channel with clear support and resistance trendlines.

• The lower boundary of the channel is acting as support, while the upper boundary is the resistance zone.

• Key Levels:

• Current Price: 96,954

• Support Zone: Around 96,613

• Resistance Levels:

• First resistance: 101,284

• Major resistance: 106,140

• Upside Target: The price has a potential 9.61% move toward 106,140, marked as a key target.

• Market Outlook:

• If the price holds above 96,613, it may continue toward the 101,284 - 106,140 range.

• A break below 96,613 could signal a further bearish move.

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Trade attivo

Active Trade on my way.