The BTC price has formed an upward channel (indicated by the blue solid and dashed lines) over the past period. The price fluctuates within the channel, but the overall trend is upward. Recently, the price broke through the downward trend line (blue dashed line), which is typically a strong bullish signal, indicating that the market may have entered a new upward phase.

Key Support and Resistance Levels:

Support level: As previously mentioned, the area between $90,000 and $92,000 is strong support. The price has rebounded multiple times in this area, indicating significant buying support at this price range.

Resistance level: $99,000 is the current key resistance level. The price is close but has not been able to sustain a breakthrough at this level, indicating selling pressure here. If the price can effectively break through and maintain above $99,000, this would be a strong bullish signal, possibly testing the psychological level of $100,000.

Moving Average (MA) Analysis:

MA 7 (purple line) and MA 25 (yellow line) show that the price has recently broken through the MA 25 line, which is usually seen as a short-term bullish signal. The price is currently above the MA 7 and MA 25 lines, indicating a bullish market sentiment in the short term.

MA 50 (blue line) has also been broken through, further confirming the medium-term bullish trend. Maintaining the price above these moving averages is generally seen as a continuation of bullish sentiment.

Future Outlook:

If BTC can maintain above $99,000, this may further confirm the upward trend, with targets possibly pointing to $105,000 or higher. However, if the price cannot stay within the upward channel and falls below the support level of $89,000, it may retest lower support levels or even potentially return to the previous downward channel.

The technical outlook for BTC/USD currently shows a strong short-term and medium-term bullish trend, especially after breaking through key moving averages and the downward channel. However, investors should continue to monitor whether the price can break through and maintain above $99,000, as well as changes in trading volume, to confirm the sustainability of this trend. Please note that the above analysis is based on technical analysis of the charts, but the actual market situation may be influenced by more unknown factors.#加密市场反弹