FX.co ★ #Bitcoin chart analysis

Hello traders, esteemed colleagues at InvestSocial! #BITCOIN — the bullish momentum has resumed, the price confidently bounced off the 70943 zone and shows strength, expecting further growth. Timeframe and Context The analysis is conducted on the hourly timeframe (H1). After a correction phase with a test of support around 70943.40, bitcoin formed a strong base and experienced a confident bounce. The current price stabilizes around 71085.35 dollars with candle closure, corresponding to the scenario of completing the corrective wave down and starting a new bullish phase with a clear breakthrough and consolidation above key levels. Market Structure: Bullish Trend in the Medium-Term Perspective Locally, the market demonstrates complete dominance of buyers: - Confident breakthrough of the 70943–71000 zone followed by holding above it and a series of strong green candles - Dominance of bullish closures in the current segment, attempts by sellers are quickly suppressed - Absence of a pullback below the broken level and stability after the support test — a classic signal of continuation of the impulse Sellers completely lost control after testing the lower boundaries, creating ideal conditions for buyer dominance. Indicators confirm a strong bullish sentiment: RSI confidently above 60 with a positive slope, momentum remains high without divergences; price stays above all key EMAs (50, 100, 200); MACD with a powerful positive histogram, the impulse expansion continues. Liquidity and Levels Significant liquidity was collected below 70943 during the correction (stop-losses and short positions closure), now the main accumulation of sellers' stops and pending orders is above current prices in the 71424–72000 zones and further up to 73000+. The breakthrough of 71000 and consolidation above 71085 opened the way to upper targets: - Liquidity is concentrated above — expecting a cascade stop collection when approaching 71424+ - Current stabilization around 71085 and absence of a pullback indicate sustainable demand - Approach to resistance zones with high volatility and acceleration of movement is expected Levels coincide with the 161.8% Fibonacci extension from the previous impulse, dynamic EMAs, and the upper boundary of the medium-term channel. Projected Movement: Continuation of the Upward Impulse Further development of a strong upward impulse is expected after consolidation above 71085: - Consolidation above 71424 with acceleration - Breakthrough of the 72000–73000 zone with activation of large pending buys - Highs update and formation of a new growth wave In the short term, a small consolidation in the range of 70943–71085 is possible to digest the movement, but in the medium term, the trend remains extremely bullish with the potential for testing 74000+. Movement Targets (Take Profit) TP1 — 71424–72000 First significant resistance zone after the current impulse Suitable for partial profit taking TP2 — 73000–74000 Intermediate area with liquidity accumulation and expansion Opportunity for additional profit taking TP3 — 75000+ Key medium-term target of the current bullish impulse Expected range for the end of the growth wave Risks and Scenario Cancellation Conditions The scenario will be canceled under the following conditions: - Breakthrough and consolidation below 70943 with the formation of new lows - Development of a descending structure with a series of lower highs and increased selling pressure Final Conclusion Trend: medium-term bullish, impulse intact Correction: completed at strong support 70943 Liquidity: main accumulation above 71424–73000, high probability of upward impulse continuation Targets: 71424–72000, 73000–74000, 75000+ Colleagues, how do you view bitcoin now? Are you adding on pullbacks or waiting for the breakthrough of 71424? Share your levels and ideas in the comments!