Current Price: ~$108,120
Key Chart Elements:
🔹 BOS (Break of Structure):
Multiple BOS markers indicate continuation of bullish structure from late April onward.
Recent BOS near $107,000 confirms bullish momentum is active again after a brief consolidation.
🔹 CHoCH (Change of Character):
Initial CHoCH around $104,000 signals a trend reversal from previous downtrend to bullish structure.
Later CHoCH further confirms buyers taking control.
🔹 FVG (Fair Value Gaps):
Multiple FVG zones are marked below price (between ~$93,000 to ~$106,000).
These represent areas where price moved impulsively, possibly returning to fill gaps.
The most recent FVG (between ~$107,244 and ~$105,518) acted as a support zone on the current retracement.
🔹 Fibonacci Retracement:
Price bounced off between the 0.5 and 0.618 fib levels (~$107,000–$106,387), a typical reversal zone in a strong trend.
Current Setup & Projection:
Price has broken above resistance near $108,000, suggesting a bullish continuation.
Target zone projected at $113,634, supported by structure and volume breakout.
Strong bullish momentum is visible after the BOS, and the price retest of FVG confirms smart money accumulation.
Volume Analysis:
Noticeable volume spike with the most recent bullish breakout, supporting the continuation case.
No large bearish volume indicating supply absorption—bulls remain in control.
Summary:
Bitcoin has completed a successful breakout from consolidation with bullish confirmation through BOS, FVG support, and volume spike. As long as price holds above $107,000–$106,200, the target zone around $113,634 remains highly probable.
Key Chart Elements:
🔹 BOS (Break of Structure):
Multiple BOS markers indicate continuation of bullish structure from late April onward.
Recent BOS near $107,000 confirms bullish momentum is active again after a brief consolidation.
🔹 CHoCH (Change of Character):
Initial CHoCH around $104,000 signals a trend reversal from previous downtrend to bullish structure.
Later CHoCH further confirms buyers taking control.
🔹 FVG (Fair Value Gaps):
Multiple FVG zones are marked below price (between ~$93,000 to ~$106,000).
These represent areas where price moved impulsively, possibly returning to fill gaps.
The most recent FVG (between ~$107,244 and ~$105,518) acted as a support zone on the current retracement.
🔹 Fibonacci Retracement:
Price bounced off between the 0.5 and 0.618 fib levels (~$107,000–$106,387), a typical reversal zone in a strong trend.
Current Setup & Projection:
Price has broken above resistance near $108,000, suggesting a bullish continuation.
Target zone projected at $113,634, supported by structure and volume breakout.
Strong bullish momentum is visible after the BOS, and the price retest of FVG confirms smart money accumulation.
Volume Analysis:
Noticeable volume spike with the most recent bullish breakout, supporting the continuation case.
No large bearish volume indicating supply absorption—bulls remain in control.
Summary:
Bitcoin has completed a successful breakout from consolidation with bullish confirmation through BOS, FVG support, and volume spike. As long as price holds above $107,000–$106,200, the target zone around $113,634 remains highly probable.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.