Bitcoin (BTCUSD) is currently in a rather favorable position for a sustained uptrend, with both news and technical factors supporting the buyers. Market sentiment has shifted to risk-on due to easing geopolitical tensions and the return of institutional capital, providing a more solid price base as these are likely just short-term rallies.
Technically, the H4 chart has found a clear strengthening channel with higher lows following each other. The price is consistently supported in the area around 74,400–75,000, while remaining above the Ichimoku cloud and the climbing Kijun-sen – a typical sign of a healthy uptrend with no signs of reversal yet.
The plausible scenario is a slight correction around 74,600 to gain momentum, before continuing to push towards the 79,400 region. If it has enough strength to exploit this area, BTC could easily expand to the 80,000+ region in a short time.
In short, the main trend remains upward, and the current corrective movements should be seen as buying opportunities due to the inherent risks. This is a “slow but steady” market, more suitable for a dip-buying strategy than trying to catch the peak.