"BTC/USD Technical Analysis:

The chart illustrates Bitcoin's price action trading within a well-defined ascending channel, indicating a strong bullish trend. A key resistance zone (highlighted in grey) has been identified, serving as a potential target for the ongoing upward momentum.

Key Observations:

1. Ascending Channel:

The price is respecting the channel boundaries, consistently making higher highs and higher lows.

This channel acts as a dynamic support and resistance structure, guiding the current trend.



2. Resistance Zone:

The grey box marks a significant area where selling pressure might emerge.

A breakout above this zone could signal continuation toward higher price levels.

A rejection at this level may lead to a pullback, potentially retesting the lower channel boundary.




Trading Plan:

Bullish Scenario:
If the price sustains above the channel's midline and breaks the resistance zone, it may offer a potential long entry. Target higher levels based on Fibonacci extensions or historical resistance.

Bearish Scenario:
A rejection at the resistance zone or a breakdown below the channel's lower boundary could signal a reversal. Monitor closely for a potential short entry or confirmation of a trend shift.


Risk Management:

Always maintain proper stop-loss levels to manage risk effectively.

Adjust positions based on price behavior near the resistance zone or channel boundaries."