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

BTC/USD is currently trading within a descending channel on the 1H timeframe. The price has recently bounced from the lower trendline support, indicating a possible reversal.Key Levels & Observations:•Support Zone: ~ $78,000 (recent low & trendline support)•Resistance Levels:•$95,000 (major resistance level within the channel)•$96,000 (potential breakout level)Trading Idea:A bullish move is anticipated if BTC holds above the lower trendline. A potential target is the mid-channel resistance ($93,000), with an extended move toward the upper boundary ($94,600). A break above this level could signal a broader trend reversal.