Bitcoin is back test a critical level that could shape the next big step. With price action returning to a previously contested support and resistance area, attention now shifts to a defined set of upside objectives that could come into play if the level holds.
Bitcoin’s S/R zone retest indicates strong market structure
According to market technician Johnathan Carter, Bitcoin’s weekly chart is currently visit again a key zone that previously acted as resistance before being breached. That same level now functions as support, marking a classic support/resistance flip.
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The chart he posted shows that the price of Bitcoin has retreated into this zone after a strong upward expansion buyers step in to defend it. This reaction does not occur randomly. The highlighted region, positioned around the mid-$60,000s, aligns with a former breakout area, reinforcing its technical importance.
The analyst’s observation focuses on the idea that this is so retest is structural confirmation. The ability of bulls to hold the price above this level suggests that the breakout remains valid and that the broader uptrend is intact.
Further supporting this outlook is the big one inverted head and shoulders pattern visible on the weekly time frame. This formation reflects a transition from bearish to bullish control.
The neckline of this pattern closely coincides with the current S/N zone, making continued retesting even more important. After breaking above this neckline, Bitcoin advanced sharply before retreating to retest. The diagram also illustrates a rounded retest structure, indicating a controlled withdrawal. This type of price action often signals accumulation, with buyers gradually regaining control without the price moving lower.
Four important price objectives come into focus
Of the support zone as the retest develops constructively, attention shifts to the next potential price targets outlined by the analyst. The first level to check is $95,000, which amounts to a short-term resistance area based on the recent pricing structure. A move to this region would confirm the continuation of the current base.
Additionally, $125,000 is the next target, in line with a previous consolidation range seen during Bitcoin’s earlier rally phase. Clearing this level would signal continued bullish momentum. The third goal is $150,000, a psychological and structural milestone that reflects an extension of the current trend. At this stage, market participation typically increases as momentum increases.
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Finally, the long-term goal is $200,000. This level represents a complete realization of the projected movement that follows the reverse head and shoulders outbreakas illustrated by the trajectory on the map.
Current price behavior suggests that the market is in the process of confirming the breakout. With buyers active defending the retested zone and there is no clear structural break, the The bullish framework remains in place. As long as this support holds, the path to higher levels remains open, with all four targets – $95,000, $125,000, $150,000 and $200,000 – firmly in sight.
Featured image created with Dall.E, chart from Tradingview.com