Bitcoin has successfully completed a breakout above the prior weekly high structure, followed by a healthy pullback which is currently unfolding into a #bullish pennant formation. The key highlight is how price is retesting the neckline zone with precision, which now doubles as a strong immediate buyback zone.
The reaction from this level is already showing strong bullish momentum, with price gearing up to challenge the previous #ATH . A breakout above that resistance should unlock the path toward the projected $116.5k and $123.4k targets as shown on the chart. Failure to hold the Immediate Buyback Zone opens the door toward the Strong Demand Zone, which remains a valid re-accumulation point within this bullish cycle.
Stay sharp. The structure remains intact unless the neckline fails decisively.
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