Technical analysis by Ameer-Trader about Symbol BTC: Buy recommendation (1/18/2025)

Following a strong upward trend in Bitcoin this week, the price reached the resistance line of a rising parallel channel and began to retrace.I see a classic support cluster forming within a horizontal range and the support line of the channel on a 4-hour timeframe.Currently, the market is testing this zone.I predict that there will be a bullish rebound leading to further upward movement, possibly reaching 106,000 and potentially even testing the all-time high.Conversely, if the price managed to break and close below the confluence zone, that would be a strong bearish signal.Good luck to you