$BTC Daily OutlookBINANCE:BTCUSDT.P
Weekly Chart:
Bitcoin has now printed three consecutive weekly closes above the former higher-high threshold at $111 960. That series is enough to confirm a clean breakout of the prior HH-HL range and keeps the long-term bias pointed firmly higher.
That said, a near-term pullback is still on the table:
• First support — the breakout shelf at $111 960 (re-test of structure).
• Deeper support — the next V-level around $98 115.
Why the caution?
Last week’s candle left a small Failed Auction just above the new high, and Footprint data shows a cluster of aggressive buy-delta trapped in that wick. Those buyers may need to get washed out before the trend resumes.
Big picture: weekly structure is bullish; any dip into the levels above is a potential reload zone while the breakout holds.
Daily Chart:
Price action remains firmly bullish: multiple Failed-Auction rejections at the $116 860 higher-low vLevel keeps supply thin and reinforce the up-trend toward the prior ATH.
That said, remember Auction Market Theory rule #5: “When time or volume builds at the edge of balance, price often pushes through.”
• Each failed auction is absorbing resting bids.
• If sellers lean in again with size, the level can flip from support to resistance very quickly.
In practice that means:
•Base case – continuation to the highs while the Daily structure holds.
•Risk scenario – a clean break of $116 860 would open room for a deeper weekly pullback toward $107456.0
For now we treat the current weekly pullback as a fresh opportunity: scouting intraday longs as price reacts to the 1-Hourly zone.
From the footprint read-out, today’s bar finished with a neutral delta, but note where the profile is stacked: both the Value Area Low and the POC sit right at the bottom of the candle. That tells us the bulk of volume printed down at the session lows and it skewed negative, sellers were leaning hard, trying to extend the move lower.
