The **BTC/USD 1-hour chart** is showing a strong bullish recovery after rebounding from the major support zone around **58,300–58,500**. Price has established a series of **higher highs and higher lows**, indicating that buyers have regained control following the previous downtrend.
The **Ichimoku Cloud** has flipped bullish, with Bitcoin trading above the cloud while the cloud itself is beginning to turn positive. This suggests that momentum remains in favor of the bulls as long as price stays above the cloud support.
The recent pullback appears to be a healthy retracement rather than a trend reversal. If buyers defend the current support around **62,300–62,400**, the uptrend is likely to continue.
### **Bullish Targets**
* 🎯 **Target 1:** **64,353** – First key resistance and breakout objective.
* 🎯 **Target 2:** **66,017** – Major upside target if bullish momentum accelerates above the first resistance.
### **Support**
* **Immediate Support:** 62,300–62,400 (Ichimoku cloud support)
* **Major Support:** 58,300–58,500 (highlighted demand zone)
### **Trading Outlook**
As long as Bitcoin remains above the Ichimoku cloud and holds the current higher-low structure, the bullish outlook remains valid. A successful breakout above **64,353** could trigger the next leg higher toward **66,017**, while losing cloud support would weaken the bullish scenario and increase the chance of a deeper pullback.
The **Ichimoku Cloud** has flipped bullish, with Bitcoin trading above the cloud while the cloud itself is beginning to turn positive. This suggests that momentum remains in favor of the bulls as long as price stays above the cloud support.
The recent pullback appears to be a healthy retracement rather than a trend reversal. If buyers defend the current support around **62,300–62,400**, the uptrend is likely to continue.
### **Bullish Targets**
* 🎯 **Target 1:** **64,353** – First key resistance and breakout objective.
* 🎯 **Target 2:** **66,017** – Major upside target if bullish momentum accelerates above the first resistance.
### **Support**
* **Immediate Support:** 62,300–62,400 (Ichimoku cloud support)
* **Major Support:** 58,300–58,500 (highlighted demand zone)
### **Trading Outlook**
As long as Bitcoin remains above the Ichimoku cloud and holds the current higher-low structure, the bullish outlook remains valid. A successful breakout above **64,353** could trigger the next leg higher toward **66,017**, while losing cloud support would weaken the bullish scenario and increase the chance of a deeper pullback.
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