Technical analysis by SupertradeOfficial about Symbol BTC: Buy recommendation (5/11/2025)

Bitcoin (BTCUSD) is showing strong bullish momentum following a textbook V-shaped recovery from the recent support zone around $73,699. After consolidating and breaking the descending channel, BTC surged with conviction, reclaiming critical levels and now approaching the previous All-Time High (ATH).Key Technical HighlightsPattern: V-Shaped RecoverySupport Zone: $73,699 – $75,000Resistance/ATH: $109,255Trendline: Long-term bullish trend remains intactRecent Breakout: Clean breakout above the falling wedge/descending channelBTC has reversed sharply from the bottom, printing higher highs and higher lows. This aggressive rebound has brought price action back toward ATH levels, with strong chances of a breakout continuation.The structure suggests bullish control, especially after retesting key areas with strength.Bitcoin Dominance at 62.2%Bitcoin's market dominance sits at 62.2%, showing clear investor confidence and capital preference for BTC over altcoins. This dominance level reinforces the bullish bias as smart money flows into Bitcoin in anticipation of a potential price discovery breakout.This trend, along with large institutional inflows, highlights a growing belief in BTC’s strength as a leading asset, especially in the current macro environment.BTCUSD Trade Setup (As Per Chart)🎯 Entry$104,732.85⛔ Stop Loss$99,507.06✅ Take Profit$114,359.25The trade idea is based on the continuation of the current uptrend and breakout above $109,255, which previously acted as resistance (ATH). A clean daily close above this level would likely open the path toward $114,359 and possibly $116,000+ as the next milestone.BTC is primed for a new leg higher. The market structure favors bulls with BTC dominance rising, large investments entering, and strong technical recovery in place. If Bitcoin holds above the entry zone and pushes through ATH, we may see a new high forming in the coming weeks.