Technical analysis by Johnson67 about Symbol BTC: Buy recommendation (5/25/2025)

1. Current Price:BTC is trading at approximately $106,880, with a minor bearish move of -0.84%.2. Ichimoku Cloud:Cloud Crossover: A bullish signal where the price breaks above the Ichimoku Cloud, often indicating a shift toward upward momentum.The price is currently above the cloud, reinforcing bullish sentiment.3. Chart Pattern & Channels:The chart shows a bullish ascending channel, indicating a trend of higher highs and higher lows.The market is respecting the boundaries of this channel, which provides structure for future price targets.4. Buy Signal:A green label indicates a “BUY: BTC/USD” signal, supported by the overall bullish pattern.Likely a recommendation based on the cloud breakout and the current price action above support.5. Support and Resistance:Support Zone: Highlighted in red around the $96,000 - $98,000 range. This zone is marked as a strong floor if price retraces.First Resistance: Around $112,000, identified as the first major hurdle for bullish continuation.Target: Approximately $120,000 - $124,000, based on the upper boundary of the ascending channel.6. Date and Time:The analysis is timestamped at 15:30 UTC on May 25, 2025, providing a precise context for the setup.Summary:The chart presents a bullish technical setup for BTC/USD with a recommendation to buy, supported by the breakout above the Ichimoku Cloud, adherence to an ascending channel, and favorable risk-reward levels. Near-term resistance lies at $112,000, with a medium-term target in the $120,000 to $124,000 range, while the downside is protected by a strong support zone below $98,000.