Bitcoin Analysis- Back Inside the Bullishh Channel📈 Bitcoin Analysis – Back Inside the Bullish Channel
After Monday’s sharp overnight drop, Bitcoin has shown a strong recovery, pushing back into the ascending channel and respecting its structure. Price has returned to the same zone where it was before the collapse, signaling that buyers are still defending key levels.
Technically, BTC rejected the midline of the bullish channel, failing to break above it—suggesting a possible need for a healthy pullback before continuation.
My preferred scenario remains a retracement toward the 92,000 support zone, which aligns with:
The lower half of the rising channel
A local demand zone from last week
The 0.382–0.5 Fibonacci retracement cluster of the recent recovery leg
From this area, I expect renewed bullish momentum as long as 92,000 holds.
🔍 Added Technical Factors
Higher lows remain intact despite volatility.
Volume on the recovery move was positive, indicating real demand.
The RSI on H4 is cooling off, supporting a potential pullback.
BTC continues to trade above the 50 EMA (H1)—short-term bullish bias.
🌍 Added Fundamental Factors
Risk appetite increased globally after softer U.S. inflation data, boosting crypto sentiment.
Fed officials continue hinting at possible rate cuts in early 2025, keeping BTC supported as liquidity expectations rise.
ETF inflows remain net positive, though slower this week—still a constructive long-term driver.
Reduced on-chain selling pressure from miners following difficulty adjustments helps stabilize price action.
