Technical analysis by lixing_gan about Symbol BTC: Buy recommendation (6/13/2025)

Fundamental:Bitcoin reels from geopolitical shockwaves as markets brace for an escalation of Middle East tensions.Meanwhile, spot bitcoin ETFs saw outflows exceeding 200 mln USD, reflecting weaker institutional appetite. With global markets faltering, volatility remaining elevated, and sentiment fragile, risk assets like bitcoin face renewed pressure.Technical:BTCUSD retreated below the ascending channel's upper bound and is currently testing the channel's lower bound and Ichimoku Cloud. If BTCUSD breaks the channel's lower bound and psychological level at 100000, the price could extend its decline to the following support at 92500. Conversely, a rebound from the channel's lower bound and break above the resistance at 11200 could prompt a further rise toward the channel's resistance and Fibonacci Confluence levels near 120000.