Bitcoin is entering a “pause” phase after an impressive rally. The current technical structure on the D1 and H4 timeframes shows that BTC is still holding within a medium-term ascending channel, but buying momentum appears to be slowing as price approaches key psychological resistance near the upper boundary of the channel.
On the H4 chart, a series of rejection candles has formed near the recent highs, signaling increased profit-taking pressure. If BTC pulls back, the $78,700 area will be the first support zone to watch closely.
On the news side, investor sentiment remains positive, driven by expectations that spot Bitcoin ETFs in the U.S. will continue to attract strong inflows. However, the market is also showing caution ahead of key U.S. economic data this week, including PCE, GDP, and Consumer Confidence — factors that could influence the Fed’s monetary policy stance, and indirectly impact Bitcoin.
Personal view: BTC is currently consolidating before making its next big move. If U.S. data strengthens the dollar significantly, BTC may see a deeper correction toward key support. However, if ETF inflows remain strong, a quick recovery toward $75K, and potentially a breakout toward $80K, is absolutely within reach.
On the H4 chart, a series of rejection candles has formed near the recent highs, signaling increased profit-taking pressure. If BTC pulls back, the $78,700 area will be the first support zone to watch closely.
On the news side, investor sentiment remains positive, driven by expectations that spot Bitcoin ETFs in the U.S. will continue to attract strong inflows. However, the market is also showing caution ahead of key U.S. economic data this week, including PCE, GDP, and Consumer Confidence — factors that could influence the Fed’s monetary policy stance, and indirectly impact Bitcoin.
Personal view: BTC is currently consolidating before making its next big move. If U.S. data strengthens the dollar significantly, BTC may see a deeper correction toward key support. However, if ETF inflows remain strong, a quick recovery toward $75K, and potentially a breakout toward $80K, is absolutely within reach.
Trade active
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.
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.