Bitcoin has recovered from a low of $60,125 to retest $74,500 as support, fuelled by ceasefire news that flipped risk sentiment and triggered $228 million in ETF inflows in a single session.
This video maps the two structural scenarios in play and the key levels that decide which one wins.
Key topics covered
- Ceasefire catalyst: The Middle East ceasefire flipped risk sentiment, squeezed short positions and drove the best monthly ETF inflow total since October at $1.86B.
- Corrective vs impulsive recovery: The move off $60,125 has looked corrective in structure, leaving open whether the bottom is in or a continuation lower follows.
- $80,500 double top: Price is forming a potential double top at resistance, with the 38.2% Fibo retracement and a Fibo extension confluence at $85,390 as the next resistance above it.
Scenarios & trade plan
Is $80,500 the launchpad or the ceiling, and does the structure confirm a bottom at $60,125? Let us know in the comments!
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
This video maps the two structural scenarios in play and the key levels that decide which one wins.
Key topics covered
- Ceasefire catalyst: The Middle East ceasefire flipped risk sentiment, squeezed short positions and drove the best monthly ETF inflow total since October at $1.86B.
- Corrective vs impulsive recovery: The move off $60,125 has looked corrective in structure, leaving open whether the bottom is in or a continuation lower follows.
- $80,500 double top: Price is forming a potential double top at resistance, with the 38.2% Fibo retracement and a Fibo extension confluence at $85,390 as the next resistance above it.
Scenarios & trade plan
- Bullish — continuation: If $74,500 holds and price closes above $80,500, a bullish setup opens toward the $85,390 confluence zone. A break and hold there brings the 50% Fib at $93,200 into view, the level where sentiment fully flips.
- Bearish — false break: If $80,500 proves to be a double top and the price loses $74,500, the corrective structure reasserts itself. Watch $70,500 as the first level, with $65,000 as the medium-term target.
Is $80,500 the launchpad or the ceiling, and does the structure confirm a bottom at $60,125? Let us know in the comments!
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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