Bitcoin continues its trade with updated strength, supported by a critical rebound from the demand zone and a confirmed change in market structure. Momentum remains bullish, but traders should keep in mind potential pullbacks to the key support zone before continuing.
Technical Analysis
By Shayan
Daily Charts
In the daily time frame, BTC has recently staged a strong rebound from the highlighted order block (demand zone), emphasizing that buyers will continue to have solid control at this critical level. The bounce was further verified by a clean breakout above the 100-day moving average, which previously served as a dynamic resistance.
The development shows a bullish return, but short-term pulls to broken MAs near 112K cannot be ruled out. If this retest is kept, the wider structure will continue to support a continuation to the highest ever-highest resistance zone.
4-hour chart
The four-hour chart shows clear changes in characters (chochs), confirming a critical shift from bearish to bullish structures. After surpassing its previous swing high, Bitcoin is currently consolidated just under the $1.17 million resistance region.
The $112K green decision point zone remains at a critical level to monitor. This retracement to the order block does not undermine the bullish outlook. Instead, you can provide a healthy correction before the next leg upwards. Keep above this base and leave the path to the athlest open.
On-Chain Analysis
By Shayan
The movement of BTC from minor wallets to exchanges has historically served as a barometer of supply-side pressure. The peak of the exchange flow from miners is often in line with the top of the market as increased distribution added sales pressure.
Currently, the 30-day moving average of miner-exchange flows has fallen to the lowest level in the short term. This drop suggests that miners have reduced their distribution and are accumulating Bitcoin instead. Interestingly, this trend is above the latest surge in Bitcoin and $115,000 to enhance the signal of bullish sentiment from miners.
In short, the combination of shifts in technological structure and accumulation of minors provides a constructive outlook. As long as $112K is held, Bitcoin appears to be properly positioned to maintain momentum and garner another challenge towards the highest ever.
