Bitcoin is currently trading around $87,151, in the middle of a healthy weekly retracement after reaching local highs. Price remains within the Ichimoku cloud (Span A at $89,519 and Span B at $79,240), indicating a neutral to slightly bullish phase, depending on whether buyers reclaim key levels in the coming weeks.
A break and sustained close above $89,000 would serve as confirmation of bullish momentum resuming. That level aligns with the top of the cloud and recent consolidation, making it a key pivot zone to watch.
Should price fail to reclaim that zone in the short term, the ideal long entry zone lies between $74,000 and $70,000, where:
A previous breakout level aligns with demand
The Ichimoku cloud thickens for dynamic support
A potential oversold signal could develop on the TSI
The Trend Strength Index (TSI) values support a pullback-to-buy thesis:
TSI(10): -0.47
TSI(20): -0.80
While both are in negative territory, they’re not deeply oversold yet, giving room for one more leg down before a strong reversal signal potentially emerges.
The ultimate bullish target remains at $109,000, which is the next significant swing extension zone.
Trade Setup Summary:
Breakout Confirmation: Close above $89,000 with follow-through
Buy Zone: $74,000 – $70,000 (demand zone + cloud + structure support)
Target: $109,000
Invalidation: Close below $69,000
Bias: Bullish continuation while holding $70,000
Bitcoin’s current consolidation follows the post-halving adjustment, where mining rewards have been reduced and market volatility tends to increase. Institutional interest remains high, with ETF inflows stabilizing and macroeconomic uncertainty supporting long-term crypto positioning. As long as real yields remain in check and risk appetite persists, BTC is fundamentally supported, aligning with the bullish continuation setup seen on the chart.
Disclaimer: This content is for educational and informational purposes only. It does not represent financial advice or a recommendation to buy or sell any financial instrument. Trading involves risk, and you should only trade with money you can afford to lose.
A break and sustained close above $89,000 would serve as confirmation of bullish momentum resuming. That level aligns with the top of the cloud and recent consolidation, making it a key pivot zone to watch.
Should price fail to reclaim that zone in the short term, the ideal long entry zone lies between $74,000 and $70,000, where:
A previous breakout level aligns with demand
The Ichimoku cloud thickens for dynamic support
A potential oversold signal could develop on the TSI
The Trend Strength Index (TSI) values support a pullback-to-buy thesis:
TSI(10): -0.47
TSI(20): -0.80
While both are in negative territory, they’re not deeply oversold yet, giving room for one more leg down before a strong reversal signal potentially emerges.
The ultimate bullish target remains at $109,000, which is the next significant swing extension zone.
Trade Setup Summary:
Breakout Confirmation: Close above $89,000 with follow-through
Buy Zone: $74,000 – $70,000 (demand zone + cloud + structure support)
Target: $109,000
Invalidation: Close below $69,000
Bias: Bullish continuation while holding $70,000
Bitcoin’s current consolidation follows the post-halving adjustment, where mining rewards have been reduced and market volatility tends to increase. Institutional interest remains high, with ETF inflows stabilizing and macroeconomic uncertainty supporting long-term crypto positioning. As long as real yields remain in check and risk appetite persists, BTC is fundamentally supported, aligning with the bullish continuation setup seen on the chart.
Disclaimer: This content is for educational and informational purposes only. It does not represent financial advice or a recommendation to buy or sell any financial instrument. Trading involves risk, and you should only trade with money you can afford to lose.
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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.
Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
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.