BTCUSD 4H Bullish setup BITSTAMP:BTCUSD is holding above the ascending trendline (white) and trading within the mid-range of a multi-band channel, showing early bullish continuation potential.
🟢 Bullish Confluences
Trendline Support: The ascending white trendline acts as dynamic support — price recently bounced cleanly from it, suggesting buyers are defending higher lows.
EMA/Band Crossover: The green EMA ribbon has turned upward and crossed above the brown mid-band zone, showing strengthening momentum.
Higher Low Formation: Recent candles confirm a higher low around $110,400, indicating accumulation before a potential breakout.
Mid-Band Retest Successful: Price is consolidating above the mid Bollinger zone — often a signal that volatility compression could precede an upside expansion.
Momentum Shift: The 4H candle bodies are closing above short-term moving averages, reinforcing short-term bullish control.
🎯 Fibonacci Extension Targets (from the recent swing low ≈ $110,400 to swing high ≈ $111,900):
1.272 $113,060 Minor resistance / first take-profit level.
1.618 $113,660 – $114,000 Mid-extension target; aligns with upper channel resistance.
2.0 $115,760 – $116,000 Full bullish extension
