FX.co ★ #Bitcoin chart analysis

Hello traders, respected colleagues at InvestSocial! #BITCOIN — stabilization after a correction with a test of the key support zone and the potential for a bullish impulse to resume Timeframe and context The analysis is conducted on the hourly timeframe (H1), allowing for the identification of medium-term impulses and liquidity accumulation zones. After a strong upward movement with new highs above 71,000, the #BITCOIN pair entered a correction phase, reaching the 67,000–67,500 zone. The current price stabilizes around 67,317 with a negative close after testing the area of 67,094–67,217, corresponding to the scenario of completing the correction phase at a significant support with partial absorption of sales and volume accumulation before a possible return of buyers. Market structure: Bullish trend in the medium term Locally, the market shows signs of easing selling pressure after testing support: - Forming a base around 67,000–67,500 with price holding above critical lows and green closes appearing on previous segments - Decrease in the dominance of red candles in the lower part of the range with long lower shadows, indicating rejection of lower levels - Lack of a confident breakthrough of support and an upward reaction after reaching the 67,094 zone Sellers dominated during the correction phase, but their momentum weakened at support levels, creating conditions for demand activation and a possible resumption of the main upward movement. Liquidity and levels During the decline, liquidity was collected below 67,000 (buyers' stop-losses), but now the main accumulation is forming above current prices in the 68,300–68,800 zones and further up to 69,000–70,000. The 67,000–67,500 zone confirmed its role as significant support: - Liquidity is concentrated above, often preceding a breakout and stop-loss collection from sellers - Current stabilization and level holding indicate the presence of sustainable demand - Approaching resistance zones is expected to increase volatility and possibly expand the upward movement Projected movement: Impulsive bounce upwards An upward impulse development is expected after accumulation at support is completed: - Consolidation above 67,800–68,000 with subsequent acceleration - Breakout of the 68,300–68,800 zone with activation of pending purchases - Updating local correction highs and forming a new wave of growth Movement targets (Take Profit) TP1 — 68,300: First significant resistance zone after the bounce Suitable for partial profit-taking TP2 — 68,800: Intermediate area with historical liquidity accumulation Opportunity for additional profit-taking TP3 — 70,000: 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: - Breakout and consolidation below 67,000 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 with local correction Correction: completion of the downward phase at strong support 67,000–67,500 Liquidity: main accumulation above 68,300–68,800, an impulsive breakout upwards is likely Targets: reaching levels 68,300, 68,800, and 70,000