Analysis BTC/USD Daily Chart

Analysis BTC/USD Daily Chart

**Chart Overview (Daily Timeframe)**

**Current Price**: \~\$114,937
**EMA 7**: \$116,896 (short-term)
**EMA 21**: \$116,561 (medium-term)
**Trendline**: Price is testing the long-term ascending trendline
**Key Zones:**

* **Support 1 (S1)**: \~\$110,000
* **Support 2 (S2)**: \~\$102,000
* **Immediate Resistance Zone**: \~\$116,000–\$120,000

**Bullish Scenario**

**Conditions**:

* Price **holds above the ascending trendline**
* A strong **bounce from current level (\~\$115K)** or a reclaim above **\$116K**

**Buy Setup**:

* **Entry**: \$115,000–\$116,000 (if bounce confirmed)
* **Stop-loss**: Below \$114,000 or the ascending trendline
* **Targets**:

* TP1: \$120,000
* TP2: \$125,000
* TP3: \$132,000+

**Confirmation**:

* Bullish candle formation near the trendline
* Reclaim of EMAs (especially EMA 7)

**Bearish Scenario**

**Conditions**:

* Price **breaks below the ascending trendline** and **closes below \$114K**
* Rejection from \$116K zone with a strong red candle

**Sell Setup**:

* **Entry**: Below \$114,000 (on confirmed breakdown)
* **Stop-loss**: Above \$116,000
* **Targets**:

* TP1: \$110,000 (S1)
* TP2: \$105,000
* TP3: \$102,000 (S2)

**Invalidation**:

* Quick recovery above \$114.5K and trendline reclaim = possible fakeout

**Bias**

**Neutral to Bullish**, as price is **at trendline support**.
Watch closely for **price reaction at current levels** for the next directional trade.