Technical analysis by ProSignalai about Symbol BTC: Buy recommendation (7/17/2025)

📈 Scenario Outlook: Bias: Bullish Preferred Play: Long setups are favorable as long as price holds above 116,600 demand. BTC is expected to push through the intermediate supply zones and potentially attempt a full retracement toward the previous CHOCH high at 123,231. 📌 Key Zones ("Your Borders"): 🟢 Demand Zone (Support) Zone: 116,600 – 117,600 This is a well-marked reaccumulation zone, aligned with previous demand and the CHOCH origin. Price respected this level multiple times, showing it as a valid base for long entries. As long as BTC holds above this zone, the bullish thesis remains valid. 🔴 Supply Zones (Resistance Targets) First Supply: 119,000 – 120,000 Aligned with the 50% retracement level (11964.22) from the previous high to low swing. Expect short-term reaction here; however, this level may not hold if momentum continues building. Upper Supply Zone: 121,500 – 123,200 This is the final major resistance before revisiting the previous high at 123,231. A sweep or rejection from here could form a double top or distribution structure, depending on macro factors and volume.