Bitcoin (BTC) recently demonstrated impressive strength by bouncing off a well-known confluence zone consisting of the golden pocket and a 4-hour fair value gap (FVG) around the 100,000 level.
This technical area has historically acted as a reliable support and once again proved its significance, offering a solid foundation for the current rally.
Following this bounce, BTC surged to 108,000, decisively breaking above the 4-hour FVG near 107,000. With this breakout, the previously resistant zone is now expected to flip into support, adding further confidence to the bullish outlook. This type of price action is often seen in strong uptrends, where key resistance levels are reclaimed and converted into support, providing a base for further upside.
Importantly, BTC has also managed to push through the golden pocket resistance, a critical Fibonacci retracement area closely watched by traders. This breakout, in conjunction with the 4H FVG clearance, clears the path for a potential continuation toward Bitcoin’s all-time high.
Momentum is clearly building. Buying pressure is strong, and retracements have been shallow, indicating a market dominated by demand. While this is a bullish sign, a brief pullback or bounce off the newly formed support (the 4H FVG zone) would be healthy. Such a move would allow BTC to consolidate and build strength before potentially pushing toward new highs.
Overall, the technical landscape looks increasingly favorable for BTC. As long as it holds above the reclaimed support zones, the path to retesting, and possibly surpassing, the all-time high appears wide open.
Trade at your own Risk 👍
Best Regards, Trade Cryptocurrency
Stay Tuned for Further Updates.
