BTCUSD Analysis is ready to fly

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This is a technical analysis of the BTC/USD (Bitcoin/US Dollar) market on the 4-hour timeframe, using Heikin Ashi candles. Below is a description of the chart analysis:

1. Trend and Pattern:

A bullish ascending channel is identified with price consistently moving higher within the blue boundaries.

A cup and handle pattern (yellow) suggests potential bullish momentum after a consolidation phase.



2. Key Levels:

Resistance Zones: Highlighted in purple at 104,008, 106,918, and 110,616, indicating potential target levels for upward movement.

Support Zone: Marked with a red "Stop Loss" level below the current price at approximately 96,000, acting as a risk management level.



3. Price Action:

The price has broken out of the consolidation zone and is now testing higher resistance levels.

Potential breakout scenarios are drawn, showing a pathway for price movement toward the upper resistance levels.



4. Targets:

First Target: 104,008.

Second Target: 106,918.

Final Target: 110,616.



5. Risk Management:

A stop-loss level is set below the previous swing low, ensuring a safety net if the price reverses

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