Analysis for Bitcoin (BTC/USDT) Daily Chart

Overview:
Bitcoin is currently in a consolidation phase within an ascending channel. It has retested a key support level at approximately $93,000, which aligns with historical demand zones. The chart also shows a descending triangle breakout, suggesting the potential for bullish continuation if key resistances are breached.

Key Observations:
Support Zone:

Strong support near $93,000.
This level has consistently acted as a foundation for upward momentum.
Resistance Levels:

Short-term resistance is visible around $101,000 - $109,000.
A breakout above $109,000 could target $120,000 and higher.
Ascending Channel:

Bitcoin is respecting the boundaries of the ascending channel.
The next test could push prices towards the upper boundary, near $132,000.
Bullish Indicator:

The breakout of the orange descending trendline indicates bullish strength.
Volume confirmation is needed to validate the move.
Potential Scenarios:
Bullish Case:

A breakout above $109,000 will confirm bullish momentum, with targets at $114,000 and $132,000.
Bearish Case:

If support at $93,000 fails, Bitcoin could retest lower levels in the $86,000 - $89,000 range.