Technical analysis by Fx_olivia_queen about Symbol BTC: Buy recommendation (3/12/2025)

Key Observations:Support Zone Identified (Red Arrow)The price has reached a potential support level near $79,000-$80,000.This level may act as a reversal point.Bullish Projection (Blue Box)The chart suggests an uptrend projection with multiple targets.The price is expected to break above resistance levels towards $89,000.Target Levels:Support Level (~$81,000): First confirmation of reversal.2nd Target (~$83,500-$84,000): A strong resistance area.3rd Target (~$86,000): Higher resistance zone.Final Target (~$89,000): Ultimate upside projection.Possible Scenarios:Bullish Scenario (Likely): If BTC holds above $79,000-$80,000, it could begin a bullish reversal towards the marked targets.Bearish Scenario (Less Likely): A breakdown below $79,000 could lead to further declines.Conclusion:Bullish Bias with confirmation needed at $81,000-$82,000.Break above resistance zones could lead to new highs.Watch price action near support before entering trades.Support Zone: Price is testing $79,000-$80,000 as a potential reversal point. Bullish Projection: If support holds, BTC may rally towards $89,000. Key Levels to Watch: Support: ~$80,000 2nd Target: ~$83,500-$84,000 3rd Target: ~$86,000 Final Target: ~$89,000 Bullish Confirmation: A breakout above $81,000-$82,000 strengthens the uptrend. Bearish Risk: A drop below $79,000 could invalidate the bullish setup.