Alright team, let's break down this juicy $BTC chart and see what's cooking. The daily timeframe tells a very clear story of accumulation and upward momentum—the macro trend is decisively bullish.
Technical Analysis
The primary takeaway is the persistent respect shown to the strong ascending support channel (Support Zone). Every major dip has been a buying opportunity off this trendline, showing consistent buyer demand. Key horizontal support is firmly established at $73,500. As long as $BTC holds the rising trendline (currently floating around $100,000 - $105,000), the primary projection remains the high-end target zone of $150,000 to $160,000.
Fundamental Tailwinds
Fundamentally, Bitcoin remains robust. We are seeing sustained institutional interest, evidenced by consistent net inflows into global Spot ETFs, validating institutional adoption. Furthermore, the persistent post-Halving supply squeeze is tightening market availability, acting as a massive underlying bullish catalyst for the rest of 2024.
Action Plan
My strategy is simple: Continue to buy the dips within the defined support channel. If $BTC breaks below the $73.5K level, the bullish structure is invalidated for the short term, but currently, we are strongly positioned for continuation toward the target.
Highly recommend HOLD and Stacking $BTC at Binance
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