Technical analysis by petermichalides about Symbol BTC: Buy recommendation (6/30/2025)

Market Context:Bitcoin is currently in a retracement phase after rejecting from the local high near 111,900. Despite the short-term pullback, the broader structure remains bullish. This setup is based on a retracement into a key support zone, offering a potential entry for the next leg up.Setup Idea:Price is pulling back into a confluence area that includes:The 0.5 Fibonacci retracement at 105,454Previous structure supportA retest of the broken diagonal trendlineThis zone is expected to act as demand, providing a favorable long entry opportunity.Trade Plan:Entry zone: Around 105,400Stop loss: Below 104,100 (beneath structure and fib zone)Target: Retest of the previous high near 111,890Risk/Reward: High R potential with clearly defined invalidationNotes:If price breaks below 105,000 and fails to show buying strength, the setup becomes weaker. A decisive break below 103,900 invalidates the trade idea. Wait for bullish confirmation (e.g. higher low or volume reaction) in the entry zone before committing.This is a clean, structured opportunity aligned with the prevailing trend. Patience and confirmation are key.