Technical analysis by NexusTradesZone about Symbol BTC: Buy recommendation (2/26/2025)

Pair: BTC/USDTimeframe: 4HCurrent Price: $86,486 (-2.37%)🔍 Market OverviewBitcoin has been trading within a well-defined double downward channel, indicating a period of correction. The price is approaching a key support level, which could act as a potential reversal point.📊 Technical Analysis1️⃣ Double Channel Down FormationBTC has been moving within two parallel descending channels, confirming a short-term bearish trend.The price is currently at the lower boundary of the second channel, where buying pressure may emerge.2️⃣ Support & Resistance Levels🔹 Support Levels:$85,500 - $86,000 (Lower channel boundary)$83,800 (Key demand zone)🔹 Resistance Levels:$89,000 (Mid-channel resistance)$92,500 (Upper channel resistance)$96,892 (Major breakout target)3️⃣ Possible Trading Scenarios📈 Bullish Scenario:If BTC holds above the $85,500-$86,000 support zone, we could see a bounce back towards the mid-channel resistance (~$89,000).A confirmed breakout above $92,500 would signal a trend reversal toward the $96,892 target.📉 Bearish Scenario:If BTC fails to hold the $85,500 support, we could see a further drop toward $83,800 or even lower.A confirmed breakdown would extend the bearish momentum, possibly towards $80,000.📌 Trading Plan✅ Long Entry:Around $86,000 - $85,500 (Support Retest)Stop Loss: Below $83,800Target 1: $89,000Target 2: $92,500Target 3: $96,892🚨 Short Entry (If Breakdown Occurs):Below $85,500Stop Loss: Above $88,000Target 1: $83,800Target 2: $80,000