BTC/USD is currently in a bullish structure on the 4-hour chart,
showing clear signs of strong upward momentum. The recent breakout above previous structure highs resulted in a clear break of structure (BOS) and change of character (CHoCH), confirming bullish control.
Price has recently tapped into a weak high near 122,000 and faced a rejection, with a retracement now happening toward the nearest order block around 117,000. This order block is a potential support zone, where buyers may step back in.
If the market holds above the 117,000ā114,000 zone, the next bullish push could target a retest or breakout above 122,000. However, if price breaks below 114,000, the next key order blocks are around 112,200 and 107,500, which could act as stronger support levels.
Overall, the market remains bullish while above 114,000, with short-term retracement expected before continuation toward the weak high and possible new highs.
Here are the take profit (TP)
First Take Profit (TP1): 122,000 (retest of weak high)
Second Take Profit (TP2): 124,000 (potential breakout above weak high targeting new liquidity)
Third Take Profit (TP3): Optional extension toward 126,500 if momentum is strong after 124,000
If price holds the 117,000 order block, these targets are valid for a bullish continuation.
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