BTCUSD - Technical Setup Points to Renewed UpsideLooking at this Bitcoin/USD daily chart, the technical setup strongly favors upside continuation despite the recent pullback from the $113,000 highs. The cryptocurrency has demonstrated remarkable resilience by maintaining support above the $100,000 psychological level after its dramatic surge from the March lows around $60,000, representing an 80%+ rally that established a clear bullish trend structure. The current consolidation pattern around $104,000 appears to be a healthy correction within the broader uptrend, with the green arrow projection suggesting potential for further gains toward the $115,000+ region. Key supporting factors include the sustained break above multiple resistance levels, the formation of higher lows throughout the uptrend, and the relatively shallow nature of the current pullback compared to the magnitude of the preceding advance. While short-term volatility remains elevated, the overall momentum and trend structure indicate that buyers are likely to step in on any weakness, making a resumption of the uptrend the higher probability scenario.
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