Bitcoin is currently moving within a clear ascending channel on the 2-hour chart. After a period of consolidation inside this channel, price action has held firmly above the support zone around 104,000, which I’ve marked as the entry point. This level has acted as a key structure area during the recent pullback.
We now see bullish momentum attempting to push price toward the upper boundary of the channel. A successful breakout above this resistance zone could trigger a strong bullish leg, targeting the 111,000 mark in the short term.
Key Levels:
Entry: 104,000
Support: 100,999
Target: 111,000
The structure remains bullish as long as the price holds above the lower boundary of the channel. A break below the support zone would invalidate the setup and warrant reevaluation.
This is a clean technical setup based on channel structure and breakout potential. Let’s watch closely for confirmation of the breakout.
We now see bullish momentum attempting to push price toward the upper boundary of the channel. A successful breakout above this resistance zone could trigger a strong bullish leg, targeting the 111,000 mark in the short term.
Key Levels:
Entry: 104,000
Support: 100,999
Target: 111,000
The structure remains bullish as long as the price holds above the lower boundary of the channel. A break below the support zone would invalidate the setup and warrant reevaluation.
This is a clean technical setup based on channel structure and breakout potential. Let’s watch closely for confirmation of the breakout.
Trade closed: target reached
Fantastic! All target hit! 500 pips. Next target ready guys. 
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.