BTCUSD: Long-Term Uptrend Intact, Crucial Channel Support TestBitcoinCRYPTO:BTCUSDManiMarketsBTCUSD Daily Analysis: Overall Bullish Trajectory: BTCUSD has demonstrated a strong, consistent long-term uptrend, clearly visible through its progression within ascending channels over the past year and a half (March to current). Two-Tiered Channel Structure: The price action is guided by two ascending channels: a broader, foundational channel outlining the overall macro trend, and a more recent, steeper channel indicating an accelerated period of bullish momentum. Critical Support Test Underway: Bitcoin is currently challenging the lower boundary of its steeper ascending channel, situated around the $112,000 level. This is a pivotal point for short to medium-term price direction. Upholding Momentum: A successful defense and bounce from this immediate channel support would be a bullish signal, potentially propelling the price back towards the recent highs within the upper channel. Backup Support Level: In the event of a breakdown from the current steeper channel, attention would shift to the lower boundary of the broader, underlying ascending channel, which serves as a significant long-term support area. Disclaimer: The information provided in this chart is for educational and informational purposes only and should not be considered as investment advice. Trading and investing involve substantial risk and are not suitable for every investor. You should carefully consider your financial situation and consult with a financial advisor before making any investment decisions. The creator of this chart does not guarantee any specific outcome or profit and is not responsible for any losses incurred as a result of using this information. Past performance is not indicative of future results. Use this information at your own risk. This chart has been created for my own improvement in Trading and Investment Analysis. Please do your own analysis before any investments.