Bitcoin Eyes Recovery as Technical Levels Align 💢

Bitcoin is currently hovering around $87.24K with a -0.68% pullback in the last 24 hours, but the technical setup suggests buyers aren’t finished yet. The price action continues to respect the descending channel structure, and the recent bounce from the lower boundary indicates accumulation pressure building at support levels.

What’s Next for BTC?

The critical question for traders is whether Bitcoin can maintain above the channel and push through the upper resistance line. A successful breakout from this formation would open the door to meaningful upside movement. Once cleared, the immediate recovery targets come into focus:

• First Target: $99,600
• Second Target: $103,800

The Setup Remains Sound

As long as BTC holds ground above the channel’s support zone, the short-term bullish thesis stays intact. The combination of price action respecting key levels and the recent bounce suggests institutional or smart money accumulation at lower prices.

Risk Management

Traders should pay attention to a close below the channel support. If that level breaks cleanly without holding, it would invalidate this bullish scenario and suggest further consolidation or weakness ahead.

The chart reveals more nuanced details about volume and momentum—worth reviewing your technical indicators for additional confirmation before entering positions.

$BTC BTCUSDT Perp - 87,019.9 -0.18%