The 1H BTCUSD chart shows Bitcoin trading within a well-defined ascending channel that has guided price action for the past two weeks. After a strong impulsive rally that pushed price to a high of 66,922.8, aligning with the 1.0 Fibonacci extension, the market entered a corrective phase, retracing through key levels including the 0.618 (65,709) and 0.5 (65,354) marks.
This pullback was confirmed by a CHoCH (Change of Character) signal, indicating weakening bullish momentum after the rejection near the Major Supply/Resistance Zone (65,350–65,600) — a level that has repeatedly capped upside attempts throughout July.
Currently trading at 64,098.0, down 0.11% on the session, price has dropped to the lower boundary of the ascending channel, an area that has historically provided strong support during this trend. This channel structure, combined with the 0 Fibonacci level near 63,746, creates a zone of confluence where buyers may look to step back in.
The projected path suggests a stepped recovery is possible from this channel support, with price potentially working through a minor pullback before attempting to reclaim the Major Supply Zone and push toward a breakout above the channel's upper boundary, targeting fresh highs beyond 66,922.8.
From a risk management perspective, the key invalidation level is a decisive break below the channel's lower trend line (under 63,745). Such a move would suggest the ascending channel structure has broken down and could open the door for a deeper retracement toward the Buy Zone near 61,380–62,000.
For now, structure favors a bounce from channel support, with traders watching for confirmation before targeting a breakout above the supply zone.
Do you think Bitcoin will hold channel support and break higher, or will we see a deeper pullback toward the Buy Zone first?
This pullback was confirmed by a CHoCH (Change of Character) signal, indicating weakening bullish momentum after the rejection near the Major Supply/Resistance Zone (65,350–65,600) — a level that has repeatedly capped upside attempts throughout July.
Currently trading at 64,098.0, down 0.11% on the session, price has dropped to the lower boundary of the ascending channel, an area that has historically provided strong support during this trend. This channel structure, combined with the 0 Fibonacci level near 63,746, creates a zone of confluence where buyers may look to step back in.
The projected path suggests a stepped recovery is possible from this channel support, with price potentially working through a minor pullback before attempting to reclaim the Major Supply Zone and push toward a breakout above the channel's upper boundary, targeting fresh highs beyond 66,922.8.
From a risk management perspective, the key invalidation level is a decisive break below the channel's lower trend line (under 63,745). Such a move would suggest the ascending channel structure has broken down and could open the door for a deeper retracement toward the Buy Zone near 61,380–62,000.
For now, structure favors a bounce from channel support, with traders watching for confirmation before targeting a breakout above the supply zone.
Do you think Bitcoin will hold channel support and break higher, or will we see a deeper pullback toward the Buy Zone first?
Trade aktif
Trade active, in profit. Want me to flag it once price confirms a break above 65,600 or a rejection back down?Trading Update – BTCUSD (Active)
📍 Entry (bounce confirmation): 64,074.5
📍 Current price: 65,386.5 (+0.06% on session)
📍 High reached: 65,328.3 (touching resistance zone)
Pips captured so far: 65,386.5 − 64,074.5 = ~1,312 pips
➡️ Price has rallied strongly from the 64,074.5 low and is now testing into the 65,000–65,600 resistance zone, right around the 0.5 Fibonacci retracement level of the prior move.
This is a solid capture already — over 1,300 pips in the bag. Price is now reacting at this key zone, so this is the area to watch closely for either a clean breakout continuation or a pullback/consolidation before the next leg.
Catatan
BTCUSD 1H Update: Following the recent BOS, price is correcting after rejecting from the major supply zone near 66,900. The projected path favors a retracement into the 0.382–0.5 Fibonacci confluence around 64,950–65,100, where trendline support and nearby liquidity could attract buyers. A successful defense of this area would increase the probability of bullish continuation toward the previous high and potentially new highs. Key level to watch: maintaining structure above 64,900 keeps the bullish bias valid.
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
🏆 Free Gold Plan: 1 - 3 signals per day
🏆 Vip Gold Scalping: 10 - 15 signals per day
🏆 Vip Gold Swing Trade: 3 - 5 signals per day
🏆 Trading Idea / Setup / Tech
Educational Platform: t.me/+1lrGDIBR1S4yNmRl
🏆 Vip Gold Scalping: 10 - 15 signals per day
🏆 Vip Gold Swing Trade: 3 - 5 signals per day
🏆 Trading Idea / Setup / Tech
Educational Platform: t.me/+1lrGDIBR1S4yNmRl
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.