🧠 BTC/USD – Bearish Pressure Eases, Potential Bullish Breakout Ahead?
⏰ 1H Chart | Date: July 31, 2025
📊 Market Structure Overview:
Current Price: $118,053
Recent Trend: Price was moving within a descending channel (red), but bullish signs are emerging.
Support Zone: ~$115,200–$116,000 (multiple bullish rejections visible).
Resistance Zone: ~$120,000–$121,500 (strong supply zone; price has rejected multiple times).
🧩 Key Technical Highlights:
🔹 Harmonic Pattern – Bearish Gartley
AB = 0.553, BC = 0.521, CD completes around 0.876 (Gartley completion).
Price rejected from "D" zone, confirming harmonic resistance.
🔹 Change of Character (CHoCH):
Two CHoCHs marked — first one signals early bullish momentum.
Second CHoCH confirms market intent to shift structure after the breakout of the descending trendline.
🔹 Break of Structure (BOS):
BOS after the second CHoCH confirms bullish control post bear exhaustion.
Retest of BOS area is ongoing, marked with an arrow and "Retest" label — watch closely.
🧠 Price Action Insight:
The price recently bounced from major support and broke above a descending trendline.
After the breakout, a retest of the trendline is in progress, which may serve as a launchpad toward the resistance area.
This is a textbook bullish reversal pattern, especially if supported by Ichimoku cloud confirmation (bullish Kumo twist).
🧭 Scenarios to Watch:
📈 Bullish Continuation:
If price holds above $117,500–$117,700 (retest area), a surge toward $119,500–$120,500 is likely.
A daily close above $120,000 would invalidate the previous supply zone and confirm a macro breakout.
📉 Bearish Rejection:
If the retest fails, watch for price to revisit support around $116,000.
Loss of this level opens the door to $114,000 and below.
⏰ 1H Chart | Date: July 31, 2025
📊 Market Structure Overview:
Current Price: $118,053
Recent Trend: Price was moving within a descending channel (red), but bullish signs are emerging.
Support Zone: ~$115,200–$116,000 (multiple bullish rejections visible).
Resistance Zone: ~$120,000–$121,500 (strong supply zone; price has rejected multiple times).
🧩 Key Technical Highlights:
🔹 Harmonic Pattern – Bearish Gartley
AB = 0.553, BC = 0.521, CD completes around 0.876 (Gartley completion).
Price rejected from "D" zone, confirming harmonic resistance.
🔹 Change of Character (CHoCH):
Two CHoCHs marked — first one signals early bullish momentum.
Second CHoCH confirms market intent to shift structure after the breakout of the descending trendline.
🔹 Break of Structure (BOS):
BOS after the second CHoCH confirms bullish control post bear exhaustion.
Retest of BOS area is ongoing, marked with an arrow and "Retest" label — watch closely.
🧠 Price Action Insight:
The price recently bounced from major support and broke above a descending trendline.
After the breakout, a retest of the trendline is in progress, which may serve as a launchpad toward the resistance area.
This is a textbook bullish reversal pattern, especially if supported by Ichimoku cloud confirmation (bullish Kumo twist).
🧭 Scenarios to Watch:
📈 Bullish Continuation:
If price holds above $117,500–$117,700 (retest area), a surge toward $119,500–$120,500 is likely.
A daily close above $120,000 would invalidate the previous supply zone and confirm a macro breakout.
📉 Bearish Rejection:
If the retest fails, watch for price to revisit support around $116,000.
Loss of this level opens the door to $114,000 and below.
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✅FOREX AND GOLD/XAUUSD SIGNALS
✅98% ACCURATE SIGNALS
✅4-6 signals daily 💯💯
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.