Bitcoin is currently maintaining a strong bullish structure on the chart While there may be debate over whether the fundamentals fully support a new bullish trend technically the market is clearly showing upward momentum At this stage an upward wave is in development and the ideal approach for traders is to wait for price to revisit key interest zones specifically Imbalance Zone 3 and Zone 4 for potential long entries
A pullback to either of these imbalance zones would indicate that the market is rebalancing price creating a possible setup for the continuation of the bullish move These zones are considered high probability buying areas but any entries should be confirmed with reversal patterns and entry signals on lower time frames
Recently Bitcoin has made a challenging return to the nearest imbalance zone triggering an immediate bullish reaction This has resulted in another strong leg upward suggesting the momentum may continue from the current levels Since Bitcoin is now trading in uncharted territory there are no historical upper targets to define resistance leaving room for potential new highs in the ongoing bullish trend
