BTCUSDT Long: Bounce from Demand Open Path to the 64K Supply

Jun 11

Hello traders! Here’s my technical outlook based on the current BTCUSDT (1H) chart structure. BTCUSDT previously traded inside a descending channel and reached a major pivot point near the lower boundary. After breaking above the channel resistance, price formed a new consolidation structure between the supply and demand lines.

Currently, BTCUSDT is trading below the 64,000 supply zone while holding above the 61,900 demand zone. Following a brief breakout test near the lower ascending channel line, price found support near the demand zone and is attempting a short-term recovery.

As long as BTCUSDT remains above the 61,900 demand zone and continues to respect the bullish market structure, the bullish scenario remains valid. A bounce from current levels could push price back toward the 64,000 supply zone (TP1). Manage your risk!

Jun 12

Trade closed: target reached

The price has already reached our target twice and continues to actively test the resistance zone.