Bitcoin is currently testing a critical confluence zone just below the prior ATH breakout (110k). After a clear Sign of Strength (SOS) breakout, price has retraced to retest the:
🔸 Mid Bollinger Band (108.9k)
🔸 Previous ATH breakout zone
🔸 Local channel support & uptrend line
RSI is neutral at 50.76 and volume remains slightly elevated — suggesting a potential BU/LPS retest phase in this Wyckoff re-accumulation.
📉 Breakdown Risk?
So far, no breakdown triggers confirmed per our risk model:
⛔ Price > lower BB (104.5k)
⛔ RSI > 45, not in weak momentum
⛔ No pattern breakdown with RSI < 40
That means no short hedge activated yet — but caution is warranted. A close below 104.5k with weak RSI & volume spike would invalidate the bullish structure.
🎯 Upside Targets if BU Holds:
Resistance: 113.2k (Upper BB)
Measured move from the pennant: 116.2k
Further confluence at 118.2k (Fib 0.66 extension)
🧠 Weekend Watchlist:
Do not trade based on 4H chart to avoid fakeouts and traps. Use it as early signal and confirm with daily close!
🔹 Hold above mid-BB keeps re-accumulation valid
🔹 Breakdown below lower-BB = structural failure
🔹 Volatility likely to spike — stay risk-managed
📚 Still within Wyckoff markup logic unless proven otherwise.
🔸 Mid Bollinger Band (108.9k)
🔸 Previous ATH breakout zone
🔸 Local channel support & uptrend line
RSI is neutral at 50.76 and volume remains slightly elevated — suggesting a potential BU/LPS retest phase in this Wyckoff re-accumulation.
📉 Breakdown Risk?
So far, no breakdown triggers confirmed per our risk model:
⛔ Price > lower BB (104.5k)
⛔ RSI > 45, not in weak momentum
⛔ No pattern breakdown with RSI < 40
That means no short hedge activated yet — but caution is warranted. A close below 104.5k with weak RSI & volume spike would invalidate the bullish structure.
🎯 Upside Targets if BU Holds:
Resistance: 113.2k (Upper BB)
Measured move from the pennant: 116.2k
Further confluence at 118.2k (Fib 0.66 extension)
🧠 Weekend Watchlist:
Do not trade based on 4H chart to avoid fakeouts and traps. Use it as early signal and confirm with daily close!
🔹 Hold above mid-BB keeps re-accumulation valid
🔹 Breakdown below lower-BB = structural failure
🔹 Volatility likely to spike — stay risk-managed
📚 Still within Wyckoff markup logic unless proven otherwise.
Protect your Bitcoin investment with our realtime alerts and fully automate your trading. No more sleepless nights, black swans, rug pulls, whale pump & dumps or getting sidelined.
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.
Protect your Bitcoin investment with our realtime alerts and fully automate your trading. No more sleepless nights, black swans, rug pulls, whale pump & dumps or getting sidelined.
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.