Bitcoin - Can Bulls Push Toward the Next Resistance? for BITSTAMP:BTCUSD by Yong726
Market Structure The short-term market structure has improved from bearish to moderately bullish. The recent rally established a higher low followed by a sequence of higher highs, indicating that bullish momentum is gradually returning. Key Resistance First Resistance: 64,500–64,700 This area has repeatedly acted as intraday resistance and remains the first hurdle for buyers. Second Resistance: 65,000–65,300 A decisive breakout above the first resistance could open the door for another …
Market StructureThe short-term market structure has improved from bearish to moderately bullish. The recent rally established a higher low followed by a sequence of higher highs, indicating that bullish momentum is gradually returning. Key ResistanceFirst Resistance: 64,500–64,700This area has repeatedly acted as intraday resistance and remains the first hurdle for buyers. Second Resistance: 65,000–65,300A decisive breakout above the first resistance could open the door for another test of this previous swing high zone. Key SupportFirst Support: 63,900–64,000This area now serves as the nearest support and should be monitored for continued buying interest. Second Support: 63,200–63,400If sellers regain control, this zone may become the next major demand area where buyers could attempt another rebound. Market SentimentMarket sentiment is cautiously bullish. The recent recovery reflects improving buyer confidence, but resistance remains close overhead. A confirmed breakout would strengthen bullish momentum, while rejection near current levels may lead to another period of consolidation. Please share your view below:Will Bitcoin break above 64,700 and continue its recovery? Or will sellers defend resistance and push price back toward support?More market structure and key level updates will be shared regularly. DisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use.