Bitcoin LTF Forecast Chart Analysis
BTC is currently trading within a range-bound pattern, recently reaching a high of $31,200 before retracing back into the parallel channel.
Traders are eagerly awaiting a potential breakout from this consolidation phase.
Key Levels:
Support: $30,000
Resistance: $31,200
If BTC breaks above the $31,200 resistance level, it could pave the way for further gains, with the next target around $38,000.
Keep a close eye on the price action for confirmation of the breakout.
Conversely, if BTC fails to overcome the $31,200 resistance, a breakdown below the $30,000 support level may indicate a bearish scenario, with potential downside towards the $28,000 to $29,000 range.
