Technical analysis by parraggon about Symbol BTC: Buy recommendation (2/19/2025)

BTC/USD is currently trading around $95,700, showing signs of a potential bullish continuation. The recent consolidation suggests that buyers are absorbing supply before the next leg up.Key Observations•Bullish Structure: The price is forming a potential higher low near support (green trendline), indicating strength.•Liquidity Grab & Reversal: A deeper pullback to the green support area could serve as a liquidity sweep before an impulsive move higher.•Targeting All-Time Highs: If price follows the projected yellow path, we could see a rally toward the $117,857 - $120,000 resistance zone, aligning with the red trendline.Trade Plan•Wait for a pullback toward the lower trendline (~90K - 92K).•Look for bullish confirmations (rejection wicks, bullish engulfing, etc.) before entering.•Target: $117,857 and possibly higher if momentum sustains.⚠️ Risk Management: If BTC loses key support (green trendline), bullish momentum could weaken, requiring a reassessment of market conditions.