BTC is retesting a major confluence zone, the intersection of the rising red trendline and the previous ATH structure around $110Kโ$112K.
This zone has acted as a strong pivot multiple times, and as long as it holds, the overall bullish trend remains intact.
Bullish scenario: Look for trend-following longs near the current intersection, targeting the upper red trendline around $125K.
Bearish invalidation: A daily close below $107K would break the confluence and signal a potential shift in momentum.
๐ The structure is still clean, a healthy correction within an ongoing bullish cycle.
โ ๏ธ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
๐ Stick to your trading plan regarding entries, risk, and management.
Good luck! ๐
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