Bitcoin continues to maintain a strong bullish market structure despite the recent consolidation below resistance. After breaking above a key H4 resistance zone, price is now pulling back into a major support and resistance flip level around 70,200. Rather than chasing price near the highs, I prefer to look for opportunities where the market returns to a discounted area with clear structural support.
From a technical perspective, the trend remains bullish across the higher timeframes. The 70,200 level stands out as a significant retest zone, while 68,500 remains the key invalidation level for the current bullish outlook. As long as buyers defend this demand area, the path of least resistance remains to the upside, with a potential move toward 73,500 and 75,500 in the coming sessions.
Trade Plan
Order Type: Buy Limit
Entry: 70,200
Stop Loss: 68,500
TP1: 73,500
TP2: 75,500
Risk-to-Reward: 1:3.11
From a technical perspective, the trend remains bullish across the higher timeframes. The 70,200 level stands out as a significant retest zone, while 68,500 remains the key invalidation level for the current bullish outlook. As long as buyers defend this demand area, the path of least resistance remains to the upside, with a potential move toward 73,500 and 75,500 in the coming sessions.
Trade Plan
Order Type: Buy Limit
Entry: 70,200
Stop Loss: 68,500
TP1: 73,500
TP2: 75,500
Risk-to-Reward: 1:3.11
Patience is often the difference between a good trade and a great trade. Let the market come to your level.
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