BTCUSD BUY ZONEBTC/USD 45-Minute Chart Analysis and Signal
The chart displays a descending channel breakout with indications of a bullish recovery for BTC/USD. Here’s the detailed analysis:
Analysis
Descending Channel:
The price was moving within a descending channel, indicating a bearish trend.
A breakout above the channel signals a potential reversal into a bullish trend.
Key Fibonacci Level:
The 0.775 Fibonacci retracement level aligns with the recent support zone, confirming strong buying interest.
Demand Zone:
The highlighted demand zone is located around 90,478 - 92,297, providing a base for a potential upward move.
Key Levels:
Support Levels:
92,297 (Immediate Support)
90,102 (Stop Loss Zone)
Resistance Levels:
94,163 (First Target)
98,559 (Major Resistance)