Technical analysis by MARK_STEVAN about Symbol BTC: Buy recommendation (3/18/2025)

This Bitcoin (BTC/USD) price analysis chart on a daily timeframe (1D) from Coinbase suggests a technical outlook for future price movements.Key Elements:1. Current Price: Bitcoin is trading at $83,004.63, showing a -1.20% decline.2. Support Zone: A trendline support is identified below the current price, indicating a potential bounce if BTC holds this level.3. Resistance Levels: Two major resistance zones are marked, with the highest one near $109,711.07.4. Projected Price Movement: The chart suggests a potential drop towards support, followed by a bullish reversal leading to a breakout towards the resistance area.5. Target Price: If BTC breaks the resistance, it may aim for the $109,711.07 target.Conclusion:The analysis indicates a possible correction before a rally. If BTC respects the trendline support, it could see a bullish surge toward new highs. Traders might watch for confirmation signals before entering positions.Just wait for target