Bitcoin continues to trade with renewed strength, supported by a decisive rebound from demand zones and a confirmed market structure shift. While momentum remains bullish, traders should remain mindful of potential pullbacks into key support zones before continuation higher.

Technical Analysis

By Shayan

The Daily Chart

On the daily timeframe, BTC recently staged a strong rebound from the highlighted order block (demand zone), underscoring that buyers remain firmly in control at this critical level. The bounce was further validated by a clean breakout above the 100-day moving average, which had previously acted as dynamic resistance.

This development signals a return of bullish momentum, though a short-term pullback into the broken MA near $112K cannot be ruled out. If this retest holds, the broader structure would remain supportive of continuation toward the all-time high resistance zone.

The 4-Hour Chart

On the 4-hour chart, a clear Change of Character (CHOCH) has occurred, confirming a decisive shift from bearish to bullish structure. After breaking above prior swing highs, Bitcoin is now consolidating just beneath the $117K resistance region.

The green decision point zone at $112K remains a key level to monitor. A retracement into this order block would not undermine the bullish outlook; instead, it could provide a healthy correction before the next leg upward. Sustaining above this base keeps the path open toward ATH retests.

On-chain Analysis

By Shayan

The transfer of BTC from miner wallets to exchanges has historically acted as a barometer of supply-side pressure. Peaks in miner-to-exchange flows have often coincided with market tops, as increased distribution added selling pressure.

Currently, the 30-day moving average of Miner-to-Exchange Flow has declined to its lowest levels in the short term. This drop suggests that miners are reducing distribution, and possibly accumulating Bitcoin instead. Interestingly, this trend aligns with Bitcoin’s latest surge above $115K, reinforcing a signal of bullish sentiment from miners.

In short, the combination of a technical structure shift and miner accumulation provides a constructive outlook. As long as $112K holds, Bitcoin appears well-positioned to sustain momentum and mount another challenge toward its all-time highs.

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Cryptocurrency charts by TradingView.