Bitcoin (BTCUSD) is showing strong bullish momentum following a textbook V-shaped recovery from the recent support zone around $73,699. After consolidating and breaking the descending channel, BTC surged with conviction, reclaiming critical levels and now approaching the previous All-Time High (ATH).
Key Technical Highlights
BTC has reversed sharply from the bottom, printing higher highs and higher lows. This aggressive rebound has brought price action back toward ATH levels, with strong chances of a breakout continuation.
The structure suggests bullish control, especially after retesting key areas with strength.
Bitcoin Dominance at 62.2%
Bitcoin's market dominance sits at 62.2%, showing clear investor confidence and capital preference for BTC over altcoins. This dominance level reinforces the bullish bias as smart money flows into Bitcoin in anticipation of a potential price discovery breakout.
This trend, along with large institutional inflows, highlights a growing belief in BTC’s strength as a leading asset, especially in the current macro environment.
BTCUSD Trade Setup (As Per Chart)
🎯 Entry $104,732.85
⛔ Stop Loss $99,507.06
✅ Take Profit $114,359.25
The trade idea is based on the continuation of the current uptrend and breakout above $109,255, which previously acted as resistance (ATH). A clean daily close above this level would likely open the path toward $114,359 and possibly $116,000+ as the next milestone.
BTC is primed for a new leg higher. The market structure favors bulls with BTC dominance rising, large investments entering, and strong technical recovery in place. If Bitcoin holds above the entry zone and pushes through ATH, we may see a new high forming in the coming weeks.
Key Technical Highlights
- Pattern: V-Shaped Recovery
- Support Zone: $73,699 – $75,000
- Resistance/ATH: $109,255
- Trendline: Long-term bullish trend remains intact
- Recent Breakout: Clean breakout above the falling wedge/descending channel
BTC has reversed sharply from the bottom, printing higher highs and higher lows. This aggressive rebound has brought price action back toward ATH levels, with strong chances of a breakout continuation.
The structure suggests bullish control, especially after retesting key areas with strength.
Bitcoin Dominance at 62.2%
Bitcoin's market dominance sits at 62.2%, showing clear investor confidence and capital preference for BTC over altcoins. This dominance level reinforces the bullish bias as smart money flows into Bitcoin in anticipation of a potential price discovery breakout.
This trend, along with large institutional inflows, highlights a growing belief in BTC’s strength as a leading asset, especially in the current macro environment.
BTCUSD Trade Setup (As Per Chart)
🎯 Entry $104,732.85
⛔ Stop Loss $99,507.06
✅ Take Profit $114,359.25
The trade idea is based on the continuation of the current uptrend and breakout above $109,255, which previously acted as resistance (ATH). A clean daily close above this level would likely open the path toward $114,359 and possibly $116,000+ as the next milestone.
BTC is primed for a new leg higher. The market structure favors bulls with BTC dominance rising, large investments entering, and strong technical recovery in place. If Bitcoin holds above the entry zone and pushes through ATH, we may see a new high forming in the coming weeks.
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Trading involves substantial risk. Not financial advice
Penafian
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Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.