Bitcoin Could Ignite Price Discovery Rally As Weekly Structure Tightens
2025-07-06 00:05:26
Main Idea
Bitcoin is showing strong support and potential for a breakout into price discovery territory, with key resistance levels and bullish patterns indicating possible new all-time highs.
Key Points
1. Bitcoin reclaimed the R/S flip zone around $104,400, now a key support level, and faces resistance at $109,000.
2. A breakout above $109,000 with volume could lead to a continued move toward a new all-time high region at $112,000.
3. Bitcoin's 4-hour chart shows a retest of the $108,600 mirror level, which could confirm new support and precede a strong breakout.
4. The 1-hour chart indicates a bullish opportunity with BTC potentially revisiting the local top at $110,500 and breaking above it.
5. An inverted head-and-shoulders pattern on the 4-hour chart suggests a potential breakout if supported by higher lows.
Description
A crypto analyst stated that Bitcoin is pressing against key resistance near its all-time high , signaling that a breakout into price discovery territory could be just around the corner. A weekly close above the level could trigger a fresh wave of upside, pushing BTC into uncharted ground where new highs are inevitable. Bitcoin Is One Candle Away From Price Discovery In an X post on July 4, CrypFlow stated that Bitcoin is showing impressive resilience and technical precision on the chart. After ...
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