BTCUSD Bullish Channel Breakout Toward 71.7K

Mar 12

The BTCUSD market is currently trading inside a rising channel, showing a clear bullish structure with higher lows and higher highs. Price recently rebounded from the channel support and trendline, confirming buyers are still in control.
Key observations from the chart:


📈 Ascending Channel: Price is respecting both the upper and lower boundaries of the bullish channel.


🟢 Trendline Support: The bounce from the diagonal support indicates strong buying pressure.


🔁 Higher Low Formation: The recent pullback created a higher low, suggesting continuation of the uptrend.


🎯 Bullish Momentum: If price holds above the trendline, a move toward the channel resistance is likely.


Trade Levels:


Entry: ~70,600


TP1: 70,950


TP2: 71,395


TP3: 71,750 (channel resistance zone)


Stop Loss: 69,990


⚠️ Invalidation: A strong break below 69,990 could weaken the bullish structure and push price toward deeper support.
📊 Summary:
As long as BTC holds above the trendline support, the probability favors a bullish continuation toward the channel top near 71.4K–71.7K.

Mar 13

Trade closed: target reached

Mar 13

Note

first touch the sl and after move toward the target and hit the target