FX.co ★ #Bitcoin chart analysis

I believe the recent slowdown in inflation has created a supportive macro backdrop for Bitcoin, as I see the chain reaction of lower inflation leading to softer rate expectations and, in turn, stronger appetite for risk assets. I interpret the latest price reaction as confirmation that liquidity expectations still dominate crypto flows, and I view the breakout above the descending trendline and the $68,800 resistance as a technically meaningful shift in short-term structure. I consider the $69,983–$70,000 zone psychologically important, and I expect that a firm consolidation above it would strengthen bullish sentiment rather than mark a late entry, provided risk is controlled. I maintain that buying with a short stop remains rational in momentum phases like this, and I would trail protection to breakeven once price acceptance above former resistance is evident. I am targeting $71,700 as an intermediate objective and $74,200 as a broader upside magnet, and I anticipate minor corrective pullbacks along the way without invalidating the bullish bias. I also recognize that confidence remains fragile, and I acknowledge that pending U.S. regulatory developments could either restore trust or renew volatility depending on outcomes.

I remain cautious despite the upward impulse because I have seen how expectation-driven rallies can unwind sharply, as I recall prior surges that extended toward extreme projections before collapsing in stages. I am aware that geopolitical narratives, including discussions involving U.S. political leadership and energy infrastructure speculation, can fuel sentiment, yet I treat them as secondary to liquidity and positioning data. I note that price action recently transitioned from a decline into a flat structure with an attempted bullish breakout from a downward channel, and I accept that this technically challenges the bearish outlook. I still observe heavy resistance near $70,500, and I expect sellers to defend that zone, potentially forcing a pullback toward $65,500 if momentum fades. I consider $60,000 a possible macro floor only if accumulation persists without aggressive downside pressure. I understand that markets rarely reward consensus positioning, and I remain alert to the possibility of engineered upside followed by sharp liquidation, even toward $55,000, before any sustainable advance resumes.