Technical analysis by LegionQ8 about Symbol BTC: Buy recommendation (3 hour ago)

Hello traders! Here is my breakdown of the current BTCUSD setup. After a strong bearish phase, Bitcoin found support near the major Support Level around $89,100. Before reaching this zone, price was trading inside a broad descending channel, where both the Resistance Line and Support Line guided the downtrend. A fake breakout occurred near the lower boundary, showing early buyer interest, but overall momentum remained bearish until price reached the support. From there, BTC formed a clear sideways Range, signaling accumulation before a reversal attempt. Once buyers gained strength, price broke out of the range and shifted into a bullish structure. BTC began climbing within a rising wedge-like channel, respecting both the ascending Support Line and the diagonal Resistance Line. Along the way, the market formed multiple breakouts and fake breakouts, confirming active participation from both sides. However, buyers consistently defended the rising trendline, maintaining higher lows while approaching the key horizontal Resistance Level near $95,500. Currently, BTCUSD is pulling back slightly after touching the wedge resistance. As long as price holds above the ascending support and stays above $89,100, the bullish structure remains intact. My scenario suggests a potential continuation toward TP1 → $95,500 upon a successful rebound from the local support. If the market breaks below the rising structure, however, a deeper correction may unfold before any further upward attempt. For now, buyers are favored while the price remains inside the ascending channel. Please share this idea with your friends and click Boost 🚀