BTC Market Analysis – Bullish Momentum Building
The price of Bitcoin is currently trading around $71,698, showing steady bullish momentum on the 4-hour chart. After bouncing from the strong support zone near $67,000, $BTC formed a higher-low structure, indicating buyers are gaining control again.
The recent move toward $72,000 suggests that the market is preparing for another attempt to break the key resistance near $74,000. If this resistance breaks with strong volume, $BTC could move toward the next targets around $75,500 and $78,000.
However, traders should watch the support area near $69,500. If the price drops below this level, $BTC may retest the $67,000 support zone before the next upward move.
Trade Setup Idea:
Entry: $70,500 – $71,200
TP1: $72,800
TP2: $74,000
TP3: $75,500
Stop Loss: $69,400
Overall trend remains bullish as long as $BTC holds above $69K.
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