BTCUSDT – Long-term uptrend intact, target 111,666 USDT

Bitcoin is maintaining a strong bullish structure on the daily chart, having successfully retested the long-term ascending trendline. The support zone around 93,932 USDT — which aligns with a Fair Value Gap (FVG) and trendline — continues to act as a key rebound level, as seen in late April.

The current chart suggests a “pullback–breakout–consolidation” pattern, with the potential for a higher low if price revisits the trendline and FVG once more. The base case: price consolidates around the 98k–100k zone before targeting the major resistance at 111,666 USDT.

On the news front, investor sentiment is stabilizing after the Fed signaled rate hold. Additionally, BlackRock’s ETF has seen three consecutive days of net inflows — a strong tailwind for the bulls.