Bitcoin Bull Market: End of the Run or Power Accumulation?

Bitcoin Bull Market: Over or Just a Strategic Pause?

• Trend Overview:
  - The market is currently following a primary ascending channel, suggesting an overall bullish trend with periodic retracements.
  - The price has recently experienced a bullish breakout, followed by a brief consolidation within a bearish channel.
  
  
• Resistance & Support:
  - The chart highlights key resistance levels: $109,356 (ATH Jan 2025) and $103,757 (recent resistance).
  - Support is noted around $79,579, with additional support at $71,400 and the demand zone near $49,736.
  
  
• Key Price Action:
  - A bearish area confirmation is marked, suggesting the price could drop sharply if the daily candle closes below $92,800. The anticipated drop could target the next support levels at 79K and 71K.
  - The range between $64,938 and $49,736 indicates a previous consolidation period, which could act as support if the price moves lower.
  
  
• Outlook:
  - If the price holds above the support levels (particularly the $92,800 level), it could potentially continue moving toward the resistance zone. However, if the market breaks below the support lines, further downside to the $71,400 and $64,938 levels is likely.
  - If the weekly candle closes above $104,570, it would signal a strong bullish trend, potentially leading Bitcoin toward the $127,000 level. This breakout above the resistance could indicate further upside momentum, pushing the price to test higher targets and possibly reaching a new all-time high.