Technical analysis by lvonstone about Symbol BTC on 11/27/2024

The price is approaching the $100k resistance zone, which aligns with a critical trendline from the upper boundary of the channel. Resistance Zone: The green zone highlights the resistance area, where the price historically struggles to break above due to selling pressure. If Bitcoin surpasses this level, it could signal a new bullish breakout toward higher targets. Potential Scenarios: A rejection at $96,000 might lead to a pullback, testing lower support levels within the trend. A breakout above $96,000 could signal the start of a new parabolic rally, possibly targeting the next red line (above $130,000). Historical Context: The chart suggests Bitcoin tends to respect these long-term trendlines, with price consolidations and rallies within the channels. Safe All! Stone.