$BTC

Bitcoin (BTC/USD) is currently trading around $108,700, showing strong bullish momentum after breaking out of a consolidation structure. Price action has shifted significantly, with clear structural developments pointing toward continued upside — but not without caution around the next reversal zone.

🔍 Key Technical Insights:
🔹 1. Volume Contraction Triangle (Bullish Breakout)
The chart initially shows a volume contraction pattern forming a symmetrical triangle.

This pattern is often associated with market compression — a setup where smart money accumulates before a breakout.

BTC broke out of the triangle with strong bullish candles, confirming buyers have stepped in with conviction.

🔄 2. Structure Shift & Break of Structure (BOS)
A major BOS (Break of Structure) occurred as price broke previous swing highs, confirming a bullish market structure.

This BOS zone now acts as a potential support area if BTC pulls back.

A short-term SR interchange zone (Support becomes Resistance) was also respected and flipped again to support during the breakout — a clear sign of structural strength.

🧭 3. Next Reversal Zone – Supply in Sight
Price is approaching a major supply/reversal zone between $109,750 and $110,250.

This zone has previously shown strong selling interest.

Traders should watch for rejection or continuation patterns within this zone — such as bearish divergence, exhaustion candles, or confirmation of resistance.

🛡 4. Major Support Level
Below current price, a major support zone around $107,500–$107,800 remains intact.

This zone has provided a solid base during past consolidations and would be the first area of interest for buyers if a retracement occurs.

📌 Strategy Plan:
🔼 For Bullish Traders:
Those already in the breakout can hold with targets toward $110,000–$110,250.

If not in yet, wait for a retest of BOS/SR zone (~$109,000) for a safer re-entry.

Consider partial take-profits within the green reversal zone.

🔽 For Bearish Traders:
Watch for price exhaustion or a fake breakout in the reversal zone.

Potential short setups could form only if price fails to hold above the BOS zone and prints a lower high.

🔧 Technical Summary:
✅ Structure: Bullish Break of Structure confirmed

🔺 Momentum: Strong upside following volume contraction

📍 Next Key Resistance: $110,000–$110,250

📉 Major Support: $107,500–$107,800

⚠️ Caution Zone: Reversal area ahead – watch price action closely

Conclusion :
Bitcoin looks set to challenge the $110K psychological level as buyers remain in control. However, the reversal zone above is critical. A clean break and hold above it could open doors to further highs, while rejection here may trigger short-term pullbacks or range-bound conditions.