Technical analysis by parraggon about Symbol BTC: Buy recommendation (4/5/2025)

BTC/USD | 1D Chart | April 2025📊 Technical Analysis:Bitcoin is maintaining its bullish structure within a well-defined ascending channel. The price has bounced off the lower trendline (green), which has provided strong support multiple times (see green arrows).Currently, BTC is consolidating near $83,800, and a breakout from this zone could initiate the next impulsive move towards the midline and upper trendline resistance (~$128,000).Support Levels: ~$80,000 (trendline)Resistance Levels: ~$90,000, ~$110,000, and ~$128,000Bullish Trigger: A confirmed breakout above $90,000 could signal strong continuation🌍 Fundamental Analysis:Bitcoin Halving (April 2024): Historically, BTC rallies post-halving due to reduced supply. The next supply shock could fuel a rally.Institutional Demand: Spot Bitcoin ETFs continue to see record inflows, with firms like BlackRock and Fidelity accumulating BTC aggressively.Macroeconomic Factors: With inflation concerns persisting, investors are turning to Bitcoin as a hedge, pushing prices higher.📈 Trade Idea:Entry: $84,000 (Breakout Confirmation)Stop Loss: $79,000 (Below Trendline)Target Range: $110,000 – $128,000 (Channel Resistance)