BITCOIN – Calm Before the Storm? Here's What I'm Watching On the 2H chart we’ve got a compelling structure developing after a breakout from a long descending channel Let’s walk through the key elements and what might come next: Previous Range & BreakdownPrice consolidated within a tight range (late May) before breaking down and continuing the bearish structure inside the channel. A strong rejection around 103.7k marked a potential bottom, followed by a *clean reversal Breakout & Current Structure BTC broke out of the descending channel with conviction and formed another short-term range just below key resistance near 110.5k A Change of Character (CHoCH) is visible indicating a shift in momentum The current pullback is entering an important Fair Value Gap (FVG) zone around 106k–106.8k
What to Watch Next A possible bullish reaction from the FVG/trigger zone could set up the next leg up toward 110.5k resistance Support zones to watch: 105.4k (previous POI) 103.7k
(major support) A clean bounce and break above the mini-range could confirm *bullish continuation Game Plan I'm eyeing 106k–106.8k for a potential long setup looking for bullish confirmation e.g reclaim of structure or a strong reaction If price reclaims the range and breaks $108.4k the path toward 110k+ opens up This is a high-probability zone but always wait for confirmation. The market may consolidate a bit more before making a decisive move
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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.