The chart presents a bullish market structure following a significant recovery from a prior imbalance (IMB), triggering a strong bullish reaction. This bounce broke a descending channel and initiated a sharp move upward.
Price has since printed a new local high and formed a minor retracement, currently approaching a key breaker block in the $104,000–$105,000 region. This breaker aligns with a previous structure resistance-turned-support, suggesting potential continuation of the bullish momentum.
The structure suggests a likely scenario of a pullback into the breaker zone, followed by a potential resumption of the uptrend targeting new highs, possibly revisiting or surpassing the previous all-time high (ATH) around $112,000.
BTCUSD is showing signs of bullish continuation. A pullback to the $104K–$105K breaker zone could offer a favorable entry for long positions, with upside targets near ATH. A sustained breakdown below the breaker would invalidate this scenario and shift focus back toward lower support levels.
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Price has since printed a new local high and formed a minor retracement, currently approaching a key breaker block in the $104,000–$105,000 region. This breaker aligns with a previous structure resistance-turned-support, suggesting potential continuation of the bullish momentum.
The structure suggests a likely scenario of a pullback into the breaker zone, followed by a potential resumption of the uptrend targeting new highs, possibly revisiting or surpassing the previous all-time high (ATH) around $112,000.
BTCUSD is showing signs of bullish continuation. A pullback to the $104K–$105K breaker zone could offer a favorable entry for long positions, with upside targets near ATH. A sustained breakdown below the breaker would invalidate this scenario and shift focus back toward lower support levels.
___________________________________
Thanks for your support!
If you found this idea helpful, drop a like 🚀 and leave a comment, I’d love to hear your thoughts!
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.