Technical analysis by Fx_PLAYER23 about Symbol BTC: Buy recommendation (3/10/2025)

This is a Bitcoin (BTC/USDT) 2-hour chart from Binance on TradingView, Key Observations:Support Zone (Red Box at ~$76,000 - $77,000):The price recently dropped into this highlighted demand area and bounced back, indicating strong buying interest.Potential Reversal Pattern (Inverse Head & Shoulders or Double Bottom-like Formation):The price formed a sharp V-shape recovery after hitting support.The expected move (blue arrows) suggests a continuation upwards towards the $85,500 - $86,000 resistance zone.Resistance Zone (Purple Box around ~$85,000 - $86,000):Previous breakdown level, now acting as a potential supply zone.The price might face selling pressure upon reaching this area.Volume Analysis:The recent dip was accompanied by increased trading volume, indicating potential accumulation at lower levels.A strong bullish confirmation would require a breakout above $86,000 with higher volume.Conclusion:Bullish Scenario: If the price holds above the current support level and breaks above $86,000, it could signal further upside momentum.Bearish Scenario: A failure to hold the $76,000 - $77,000 support level might lead to further downside, potentially testing lower levels around $74,000.Support Zone: ~$76,000 - $77,000 (Strong demand area, recent bounce) Resistance Zone: ~$85,000 - $86,000 (Previous breakdown level, potential selling pressure) Pattern Formation: Possible inverse head & shoulders / double bottom Expected Move: Bullish continuation towards resistance if support holds Volume Analysis: Increased buying volume at lows, needs confirmation on breakout Key Levels to Watch: Bullish Breakout: Above $86,000 for further upside Bearish Breakdown: Below $76,000 could lead to lower levels (~$74,000)