Bitcoin (BTCUSD): Key Demand Level Retest & Target HorizonBTC/USD: Long Opportunity from Demand Zone Retest
Market Overview:
Bitcoin ( BITSTAMP:BTCUSD ) on the 1-Hour timeframe presents a compelling long setup as price action consolidates following a strong recovery from the lower $62,600 support region.
After completing a Head & Shoulders pattern and an upward channel break earlier in the week, price established a firm higher-low structural trendline. We are now observing consolidation right below local resistance.
Technical Breakdown:
Current Price Action: Hovering near $64,450, under immediate resistance.
Key Demand Zone: $63,800 – $64,150 (Purple Support Box).
Resistance / Target: $64,650 – $64,750.
Trade Plan:
Strategy: Wait for price to pull back into the Demand Zone ($63,800 – $64,150) to fill orders and sweep liquidity. Look for bullish confirmation candles (hammer, bullish engulfing, or lower timeframe market structure shift) within this box.
Entry: Near $63,900 – $64,100 (inside the Demand Zone).
Target (TP): $64,650 – $64,750 (Resistance Line).
Invalidation / Stop Loss (SL): Below $63,500 (A breakdown below the SMC trendline invalidates this bullish outlook).
Long