Hello everyone,
On the H4 timeframe, Bitcoin is maintaining a relatively clear bullish structure after rebounding strongly from the 66,000–67,000 zone. The fact that price has moved above both EMA 34 and EMA 89, while these moving averages are starting to slope upward and expand, suggests that short-term momentum has shifted into a more positive phase.
The recent rally has pushed price toward the 74,000–75,000 area with fairly solid momentum. However, at this level, the market is beginning to show signs of hesitation, with candles forming upper wicks and narrower ranges. This reflects selling pressure reacting at resistance, but more in the form of supply absorption rather than a clear reversal signal.
At the moment, the 72,500–73,000 zone is acting as the nearest support, aligning with EMA 34. If price continues to hold above this area, the bullish structure remains intact, and the potential for further upside toward 76,000–78,000 is still valid. On the other hand, if this support is lost and price falls below EMA 89 around 70,500–71,000, the short-term trend could weaken and shift into a consolidation phase.
In the broader context, capital flow is still leaning toward risk assets amid expectations of stable interest rates. However, pressure from bond yields and a strong USD remains a factor that could trigger short-term pullbacks. As a result, the uptrend may continue, but likely with intermittent technical corrections to rebalance the market.