Ticker: 
IBIT – iShares Bitcoin Trust
Timeframe: 1D (Daily)
Current Price: $66.83
Bias: Bullish within ascending channel
Outlook: Continuation possible after Stoch RSI reset and trendline bounce
🧠 Idea Summary
IBIT has been trading within a strong ascending channel (marked in red) since late 2023. After a brief consolidation near the channel midline, price is attempting a bounce from key support levels. This resembles the previous bullish flag breakout pattern (white lines) seen in mid-2023.
🔍 Technical Breakdown
📌 Red Ascending Channel
Price has followed a rising parallel channel since late 2023.
The current price is bouncing from the lower bound of this channel.
📌 Previous Bull Flag (White)
In 2023, IBIT broke out of a long consolidation channel with a strong rally — the current structure is mirroring that behavior.
📌 Support/Resistance Levels
🔶 Support: ~$63 (200 SMA)
🔶 Resistance: ~$70 (channel top)
Holding above $63 maintains the bullish structure.
📈 Moving Averages
9 SMA and 50 SMA are both sloping upward, suggesting bullish strength.
Price is currently holding above both, a positive sign for continuation.
🔄 Momentum Indicators
Stoch RSI: Rebounding from oversold (~19), indicating a potential fresh upside leg
RSI (14): Hovering near 57 — still has room to run before overbought territory
📊 Volume
Volume has been consistent with bullish moves, but a breakout above $70 should ideally be accompanied by a volume spike.
🚀 Potential Price Targets
🎯 Target 1: $70 (Channel top & psychological resistance)
🚀 Target 2: $75+ (Channel extension if momentum picks up)
⚠️ Risk Management
A breakdown below $63 and the lower trendline would invalidate the bullish channel and signal a potential trend shift.
Watch for volume divergence or failed follow-through on bullish setups.
🔔 Conclusion
IBIT is respecting technical structure and preparing for a possible continuation move. The recent bounce off the lower trendline, supported by Stoch RSI reset, offers a compelling long setup if momentum follows through. Keep an eye on $70 for breakout confirmation.
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IBIT – iShares Bitcoin TrustTimeframe: 1D (Daily)
Current Price: $66.83
Bias: Bullish within ascending channel
Outlook: Continuation possible after Stoch RSI reset and trendline bounce
🧠 Idea Summary
IBIT has been trading within a strong ascending channel (marked in red) since late 2023. After a brief consolidation near the channel midline, price is attempting a bounce from key support levels. This resembles the previous bullish flag breakout pattern (white lines) seen in mid-2023.
🔍 Technical Breakdown
📌 Red Ascending Channel
Price has followed a rising parallel channel since late 2023.
The current price is bouncing from the lower bound of this channel.
📌 Previous Bull Flag (White)
In 2023, IBIT broke out of a long consolidation channel with a strong rally — the current structure is mirroring that behavior.
📌 Support/Resistance Levels
🔶 Support: ~$63 (200 SMA)
🔶 Resistance: ~$70 (channel top)
Holding above $63 maintains the bullish structure.
📈 Moving Averages
9 SMA and 50 SMA are both sloping upward, suggesting bullish strength.
Price is currently holding above both, a positive sign for continuation.
🔄 Momentum Indicators
Stoch RSI: Rebounding from oversold (~19), indicating a potential fresh upside leg
RSI (14): Hovering near 57 — still has room to run before overbought territory
📊 Volume
Volume has been consistent with bullish moves, but a breakout above $70 should ideally be accompanied by a volume spike.
🚀 Potential Price Targets
🎯 Target 1: $70 (Channel top & psychological resistance)
🚀 Target 2: $75+ (Channel extension if momentum picks up)
⚠️ Risk Management
A breakdown below $63 and the lower trendline would invalidate the bullish channel and signal a potential trend shift.
Watch for volume divergence or failed follow-through on bullish setups.
🔔 Conclusion
IBIT is respecting technical structure and preparing for a possible continuation move. The recent bounce off the lower trendline, supported by Stoch RSI reset, offers a compelling long setup if momentum follows through. Keep an eye on $70 for breakout confirmation.
✅ Like this idea if you find it useful
💬 Share your thoughts or levels below
📌 Follow me for more crypto/ETF swing setups
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