Bitcoin (BTC/USD) Analysis: Breakout and Reversal SetupBitcoin / U. S. DollarKRAKEN:BTCUSDNavid-RikhtegarThe current technical landscape for BTC/USD as of mid-April 2026 suggests a definitive shift in market structure. After a lengthy consolidation phase, the price action is now signaling the start of a fresh bullish cycle. Technical Outlook: •Weekly Chart (Macro Perspective): The breakout from the descending parallel channel serves as a major bullish catalyst. By slicing through the upper boundary near $74,000, Bitcoin has effectively neutralized months of bearish pressure, suggesting the start of a new impulsive wave. •Daily Chart (Reversal Pattern): A classic "W" pattern (double bottom) has fully formed. The price is currently breaking out above the $76,000 neckline; a sustained daily close above this level would flip previous resistance into support and confirm a macro trend reversal. •Momentum Indicators: The Weekly RSI is currently hovering near 45, positioned well below the overbought threshold (70+). This indicates significant "runway" for price appreciation, providing a strong tailwind for a multi-week swing trade toward higher targets. Trade Plan & Risk Management: This setup offers a structured approach to capturing the trend while protecting capital. 📍 Entery Price:$77,400Price as of April 17, 2026. 🎯 Profit Targets: Target 1: $94,000 Target 2: $106,500 Target 3: $123,700 🛡️ Risk Management Stop Loss: $69,900(Placed below the weekly breakout candle ) Risk/Reward:2.0+Calculated based on the $94k target; R/R increases significantly at T2 and T3.