The daily chart of the BTC/USD pair shows strong potential for a recovery after a sharp correction from its all-time high. The pair previously reached a high of around 107,670 but has since recovered significantly, finding support around 76,400. This support line coincides with the 100% Fibonacci retracement level from the previous bull market's swing low to the swing high, indicating its importance as a key psychological and technical indicator. Following this decline, the structure changed as Bitcoin broke the downtrend line that had been limiting price movement since early 2025. This suggests that the correction may be over and that upward momentum may resume. The price has since risen significantly and is currently around 94,928. This support level lies below the 38.2% Fibonacci retracement level at around 95,690 and indicates a nearby resistance level that bulls are attempting to overcome. A clear break above this level would confirm continued upward momentum and likely pave the way for the 23.6% Fibonacci retracement level at 99,855. If this momentum holds, the primary targets will be the psychological resistance at 100,000 and the previous high at 107,670. These resistance levels are important resistance levels where traders can take profits or where the market could temporarily move sideways. The intermediate price structure is characterized by a series of higher lows, indicating the formation of an upward trend. The recent positive recovery has been supported by strong selling, confirming buyer confidence. The price action has also formed a small ascending channel, currently supported by a short-term trend line acting as dynamic support. A break above the long-term downtrend line would indicate a structural change in market sentiment, and the short-term uptrend will remain intact as long as the price remains above the recent swing low at 88,100 (the 50% retracement level).
On the other hand, we can see important support levels at several Fibonacci levels. The first support level is near 92,040, the 38.2% retracement zone, and will act as immediate support if the price breaks the current resistance level. Below that, there's 88,134, which corresponds to the 50.0% Fibonacci level and is an important starting point for bulls. Failure to hold this level could lead to another test of the downside towards the 61.8% Fibonacci retracement level at 84,222, which could act as deeper support. If downward pressure increases sharply, the previous low at 76,413 (the 100% retracement level) will become an important level, and a break below this level would signal a structural shift towards bearish sentiment. The exponential moving average (EMA) on the chart is beginning to correct in favor of the uptrend. The short-term EMA has begun to cross the long-term EMA, indicating a trend reversal is underway. Furthermore, the current price is trading above all major exponential moving averages, indicating that upward momentum is strengthening. The Bollinger Bands are slightly widening, a sign of increased volatility and a continued trend. However, before an explosive uptrend can occur, a sideways phase around the current resistance line is expected. Momentum indicators confirm the recent uptrend. Currently, the Relative Strength Index (RSI) is around 67, approaching the overbought zone but not yet reaching the exhaustion level. This suggests that further gains are possible before a correction becomes necessary. The Stochastic indicator is also showing an upward trend above 70, but there has been no clear bearish crossover yet, indicating continued upward momentum. The MACD (Moving Average Convergence Divergence) indicator is bullish, the MACD line and signal line are above the zero line, and the histogram is expanding. This confirms the current upward trend driving the market. In conclusion, the BTC/USD chart shows a strong recovery pattern within the overall uptrend structure. The BTC/USD pair has made impressive gains since reaching a low of 76,400, breaking through key downside resistance and is currently moving towards the 38.2% Fibonacci retracement level at 95,690. Buying pressure is expected to continue above this level, reaching 99,855 and eventually the all-time high of 107,670.
