$BTC Here’s a detailed analysis with a well structured explanation using simple English.

Bitcoin Analysis. Ascending Channel on 4 Hour Chart

Current Situation.

$BTC is trading within an ascending channel on the 4 hour chart.

This pattern indicates potential mid term bullish momentum as the price continues to make higher highs and higher lows.

Key Levels to Watch.

1. Resistance Zone.

The top of the channel (resistance) is where the price might face selling pressure.

If Bitcoin breaks above this resistance it could signal strong upward movement and a continuation of the bullish trend.

2. Support Zone.

The lower line of the ascending channel acts as support.

If the price pulls back to this level it may find buyers and bounce back up.

Buy Zone Target and Stop Loss.

Buy Zone. $64,000 to $65,500.

This is where you can look for potential entries especially on any pullback to the lower channel support.

Target Levels (Take Profit).

First Target. $67,500.

Second Target. $69,000.

These targets align with key resistance zones and continuation of the channel trend.

Stop loss. $63,000.

Placing a stop loss below the support zone protects against any sudden downward movement.

Trading Strategy (Simple Steps).

1. Wait for Confirmation.

Look for a clean breakout above resistance with strong volume.

Alternatively a bounce from support near $64,000 can also be a good buying opportunity.

2. Enter Trade.

Place your buy order in the Buy Zone ($64,000 - $65,500).

3. Set Targets.

Take partial profits at $67,500 and move the stop loss higher (trail stop).

Aim for the second target at $69,000 if the trend remains strong.

4. Manage Risk.

Keep a Stop Loss at $63,000 to minimize risk.

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