Bitcoin is currently trading inside an upward channel, showing a short-term bullish structure. Price recently touched the upper boundary of the channel and is now hovering around the 110,490 entry level.
Bullish Case: If Bitcoin sustains above 110,490, buyers are likely to push towards the next resistance zone at 113,219, which also aligns with the channel extension. This move would represent a gain of around +2.42%.
Bearish Case: A break below the 110,049 stop level would weaken the bullish structure and open the way for a decline toward 107,518, a key support level, marking a potential −2.21% downside.
Summary: BTC/USD remains bullish within the channel, but traders should monitor the 110,490–110,049 zone closely. Holding above favors long positions, while a confirmed breakdown signals short opportunities.
Bullish Case: If Bitcoin sustains above 110,490, buyers are likely to push towards the next resistance zone at 113,219, which also aligns with the channel extension. This move would represent a gain of around +2.42%.
Bearish Case: A break below the 110,049 stop level would weaken the bullish structure and open the way for a decline toward 107,518, a key support level, marking a potential −2.21% downside.
Summary: BTC/USD remains bullish within the channel, but traders should monitor the 110,490–110,049 zone closely. Holding above favors long positions, while a confirmed breakdown signals short opportunities.
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