BTCUSD: Bulls Eye Recovery Toward $104K Resistance Zone

[cryptohog]

Hello everyone, here is my breakdown of the current Bitcoin setup.

Market Analysis

BTCUSD is currently showing signs of a potential bullish recovery after bouncing from the key $100,600–$101,200 Support Zone, which aligns with the Wedge Support Line on the chart. This area has acted as a Buyer Zone multiple times in the past, with each test triggering strong upward reactions. The recent fake breakouts below support suggest liquidity sweeps and show that sellers have been unable to sustain momentum to the downside.

Currently, price was moving within a falling wedge structure, reflecting a controlled corrective decline. Throughout this move, several fake breakouts occurred along both boundaries of the wedge, indicating seller exhaustion and possible accumulation by larger buyers. After touching the Support Zone again, BTCUSD formed a bullish reaction, signaling a shift from selling pressure to buying interest. BTCUSD is now approaching the $103,500–$105,000 Resistance Zone, which previously acted as a strong supply level where corrective upswings were rejected. This zone also aligns with the Wedge Resistance Line, making it a key decision area for the next directional move. If buyers can sustain momentum above support, the market may set up for a continued bullish recovery.

My Scenario & Strategy

As long as BTCUSD holds above the $100,600–$101,200 Support Zone, the bullish recovery outlook remains intact. I expect price to continue moving gradually higher toward the $103,500–$105,000 Resistance Zone as the next key target. A confirmed breakout above $105,000 and sustained holding would signal a shift in structure, potentially opening the path toward $110,000 in the medium term.

However, if price breaks back below the Support Zone, the bullish setup becomes invalid and BTCUSD may revisit deeper support levels before any new recovery attempt develops. For now, structure favors bullish continuation, and pullback-based long entries remain the most favorable approach while support holds.

That's the setup I'm tracking. Thank you for your attention, and always manage your risk.

[EmTeam]

BTC reclaiming key levels fast — $104K could be the next major test.

[alex10]

Momentum’s back. As long as support holds, rally continuation looks likely.