Bitcoin is currently presenting a strong bullish setup on the 4H chart. Price has bounced from the lower boundary of a long-standing ascending channel, forming a falling wedge — a classic bullish continuation pattern.
The breakout from this wedge aligns with a key support level and suggests a potential move toward the upper resistance zone at $111.5K–$112.7K, which also aligns with the upper trendline of the broader ascending structure.
Momentum confirmation above $106K could accelerate the upside move.
Target zone: $111.5K–$112K
Invalid if price breaks below $104.5K
The breakout from this wedge aligns with a key support level and suggests a potential move toward the upper resistance zone at $111.5K–$112.7K, which also aligns with the upper trendline of the broader ascending structure.
Momentum confirmation above $106K could accelerate the upside move.
Target zone: $111.5K–$112K
Invalid if price breaks below $104.5K
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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.
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.