1. Market Overview

Bitcoin is in a short-term bullish structure (Rising Structure), characterized by higher lows (Higher Lows). However, the price is struggling to break above the resistance zone, forming an "Ascending Triangle" (Ascending Triangle) or an upward channel.
2. Key Price Levels (Key Levels)
* Resistance / Supply Zone (Resistance/Supply Zone):
* The area of 88,800 - 89,000 USD (yellow box above) acts as a strong "wall" of resistance.
* The chart shows at least 3-4 touches to this zone and subsequent sell-offs (red circles), indicating significant selling pressure here ("Sellers Active Here").
* Support & Trendline (Support & Trendline):
* The upward trendline (m black) connecting the lows acts as a very good support.
* Currently, the price has retested this trendline around 87,600 - 87,800 USD. This is marked as the "Demand Reaction Area" (Demand Reaction Area), where buyers start to participate to defend the uptrend.
* The phrase "Price is reacting, not failing" (Price is reacting, not failing) emphasizes that the recent dip is just a technical correction, not a trend break.
3. Momentum (Momentum) - RSI Indicator
* The RSI indicator below shows a "Momentum Reset - No Panic" signal.
* Previously, RSI was in overbought territory (Overbought), and the recent correction brought RSI back to neutral/low levels (around 40-45). This is an ideal level for momentum to recharge (recharge) before a new rally without overheating.
4. Trading Plan (Trade Setup)
Based on the chart (green/red zones), this is a Long entry setup (Long) expecting a breakout of resistance (Breakout):
* Entry point (Entry): Around the current price zone 87,888 - 87,900 USD (when the price reacts and bounces from the trendline).
* Stop loss (Stop Loss): Placed below the upward structure and trendline, specifically around 87,040 USD ("Risk Defined Below Structure"). This helps protect the account if the uptrend structure is broken.
* Take profit (Take Profit): Targeting a breakout of the current supply zone, aiming for 89,400 USD or higher ("Upside Expansion If Structure Holds").
5. Conclusion & Strategy
The market is at a decisive stage. Buyers are trying to maintain the uptrend at the support trendline.
* Positive Scenario (Bullish): If the price stays above 87,600 and RSI recovers, BTC is highly likely to retest the 89,000 zone again. If a successful breakout occurs, the rally could extend strongly.
* Negative Scenario (Bearish): If the candle closes below 87,000 (breaks the trendline), the uptrend will be invalidated, and sellers will take control, possibly pushing the price to deeper support levels.
> In summary: The chart suggests a buying opportunity with an attractive risk/reward ratio (R:R), as long as the support trendline is not broken.