BTC accumulates and starts to recoverBitcoin (BTC/USD) – Daily Analysis
BTC continues to trade within a broad ascending channel, currently rebounding strongly from the key demand zone around 106,000–108,000. This zone has acted as a major liquidity area where buyers have repeatedly stepped in to defend price.
After forming a double rejection at the lower channel boundary, BTC has reclaimed the EMA 34 and is now attempting to stabilize above 110,000, signaling early bullish recovery momentum.
If buyers can maintain price action above 110,000, the next resistance levels to watch are:
113,000–114,000: confluence of EMA 89 + prior structure resistance.
126,000–127,000: upper trendline of the ascending channel and potential medium-term target.
Technical Outlook:
Price respected long-term ascending channel support.
EMAs show potential for a bullish crossover if momentum continues.
Higher low formation supports a recovery scenario.
Bullish Scenario:
Holding above 110,000 would confirm strength, with possible continuation toward 113,000 → 126,000.
Bearish Scenario:
Failure to hold 108,000 could trigger a deeper retracement toward 106,000 or even 102,000 (next demand zone).
