Bitcoin continues to maintain a strong bullish structure, with price action moving steadily higher over multiple time frames. While bulls remain contained for the time being, the widening gap between price and volume could signal slowing momentum and increase the risk of a pullback if buying pressure does not return.
A hold above the key support at $74,937
As long as Bitcoin maintains its position above the critical bottom at $74,937, the current upward momentum remains intact. Market analyst Kamile Uray notes that the main obstacle for bulls during this climb is the $98,000 resistance level. Establishing a daily close above this threshold would pave the way for the asset to test the next big move delivery zone located between $107,000 and $109,000.
Related reading: Bitcoin Tests Crucial Resistance at $80,000: One Move Can Change Everything
The range between $107,000 and $109,000 is expected to provide a formidable barrier to price action. Should Bitcoin struggle to gain further traction and fail to break above $126,199, the… market may face significant rejection. Such a failure at these high levels would likely lead to a pullback as traders take profits and momentum stagnates. In the event of a retracement, the region between $68,000 and $71,000 could provide the necessary liquidity to stabilize the price.
However, if selling pressure increases, the $60,000-$62,433 range will become a key support corridor. A decisive daily close below the psychological barrier of $60,000 would be a bearish signal, indicating that the decline is deepening, leading to a significant market correction in the long term.
Bitcoin soars higher despite declining volume
In a recent update, JDK Analysis noted that Bitcoin continues to climb higher, but trading volume has steadily declined during the move. Despite the volume decline, the shorter time frames still indicate a very strong structural uptrend, with no obvious signs of weakness or pullbacks at this point. As a result, there is currently no clear short-term structure worth trading as buyers remain in control of the market structure.
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Price has also played the next big role resistance zonemeaning it moved aggressively before properly testing that level. If Bitcoin revisits the area, especially around all-time high anchored VWAP (aVWAP), the attention will shift towards the possibility of an SFP (swing failure pattern) forming at the current highs, which could provide a potential short trigger.
For bullish line-upIn the coming years, the $73,000 to $74,000 region remains the next key area of interest for potential long opportunities. Rather than chasing prices at current levels, the preference is to wait for a deeper pullback to a cleaner support zone before considering new positions. As market conditions become more expansive, protecting capital remains the top priority, while profit opportunities take a back seat.
Featured image from Pixabay, chart from Tradingview.com