š BTCUSDT Bullish Channel Retest Setup š
Bitcoin is still respecting the overall ascending channel structure on the 4H timeframe, showing strong bullish market behavior despite the recent rejection from the upper trendline. The chart highlights a healthy correction rather than a full bearish reversal.
š Key Technical Observations:
Price is trading inside a well-defined rising channel.
Recent pullback came after liquidity was taken near the channel high.
Weekly support around 79.3K is acting as an important demand zone.
Market structure remains bullish as long as price holds above support.
A successful retest of the support area could trigger another impulsive move upward.
š Bullish Scenario:
If BTC maintains support and buyers step in, the market may continue toward the next resistance and potential target near 84.2K šÆ
ā ļø Risk Factors:
A breakdown below weekly support could weaken bullish momentum temporarily.
Traders should wait for confirmation before entering positions.
š” Overall trend remains bullish while price respects the channel structure and higher lows continue forming.
For educational purposes only.