Bitcoin - Is It Possible to Test the ATH Once More?The weekly structure on Bitcoin remains firmly bullish. After consolidating below major resistance through much of 2024, price finally broke out decisively in November 2024, triggering a clean impulsive move that led to a new all-time high in January 2025. That breakout was significant, not just a short-term spike but a structural shift that confirmed long-term bullish momentum.
Since then, Bitcoin pulled back in a controlled and clean fashion, retesting the same zone that initiated the breakout. This type of price action, revisiting the origin of displacement and holding above it, is classic trending behavior and shows that the market still respects the bullish order flow.
Consolidation Structure
The zone that once acted as resistance has now flipped into support. Price dipped into the weekly candles that caused the breakout and closed above them, showing that buyers are still in control. That area also aligned with a fair value gap, giving additional confluence. The reaction out of this zone was strong, confirming it as a valid demand level.
Since that retest, we’ve seen another leg up, and now a new weekly fair value gap has formed just beneath the current price. I’m watching that imbalance as a potential short-term pullback area, and ideally, I want to see price fill it to around the 50 percent level before continuing higher.
Bullish/Bearish Scenarios
The bullish scenario remains valid as long as Bitcoin continues to hold above the previous breakout zone. I’m expecting a pullback into the newly formed fair value gap, ideally down toward $89,000, which marks the 50 percent line of the imbalance. If price taps that level and begins to bounce, that would be a potential signal for continuation toward the highs.
The bearish scenario only comes into play if price breaks back below the original breakout zone, invalidating the structure and showing weakness across the weekly levels. As long as we stay above that structure, there’s no reason to fade the trend.
Price Target and Expectations
Main expectation is a healthy pullback into the $89,000 zone to partially fill the new weekly imbalance. From there, I’ll be watching for signs of strength such as bullish engulfing candles or strong closes above the midrange of the gap. If buyers show up there, the logical next step is another attempt at the all-time high.
The ATH remains the key target for this leg, and that’s where I’ll be looking to take partial profits or reduce risk depending on how price behaves near that zone.
Current Stance
Still leaning bullish. Structure is clean, key levels are being respected, and the market has shown a clear tendency to react from weekly imbalances. I’m not chasing price into highs, but I am interested in the 89K region as a potential re-entry zone. If price gives a clean reaction there, I’ll be looking to scale in or add to existing positions.
NEWS TOMORROW
Keep in mind that FOMC is scheduled for tomorrow, which could bring a wave of volatility across all risk assets. That might trigger wicks or erratic price action even if the higher timeframe trend remains intact. Manage risk accordingly, don’t overreact to the first move, and stay focused on the weekly structure. As long as the market respects it, this still looks like a setup that wants to reach for the ATH once more.
Conclusion
Bitcoin broke out in November 2024, reached a new ATH in January 2025, and has since pulled back to retest the zone that caused the breakout. That retest held perfectly and has now led to another move higher. With a new weekly gap in play, I’m watching for a 50 percent fill around 89K before the market potentially gears up for another attempt at the highs.
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