BTC Buy Zone Forming – Potential Bullish Breakout Ahead

Analysis:

Trend Structure: After a corrective decline from the $124K resistance area, BTC has rebounded strongly, forming a rising channel (highlighted in blue).

Support Levels: Strong demand observed near $107,200, aligning with the 0.868 Fibonacci retracement, making it a crucial support zone.

Buy Zone: Chart highlights the $114K–$116K range as a buy zone before continuation of the upward trend.

Resistance Levels: Key resistance remains around $124K–$126K, which is the next major target if the bullish momentum sustains.

Outlook: As long as BTC stays above $114K support, the bias remains bullish, with a potential rally towards $120K–$124K. A breakdown below $112K would invalidate the bullish scenario.

✅ Bias: Bullish continuation
🎯 Targets: $120,000 → $124,000
🛑 Invalidation: Break below $112,000