Is Bitcoin still bullish or trapped in a range? key market structure at risk
The post Is Bitcoin still bullish or trapped in a range? key market structure at risk appeared on BitcoinEthereumNews.com.
Bitcoin’s recent correction raises the question: is this just a pullback, or the beginning of a range-bound market? A breakdown in structure may hint at deeper retracements ahead. Bitcoin (BTC) has seen a notable shift in momentum following a strong uptrend that began at the $75,000 swing low. After reaching new all-time highs, recent price action has faltered, failing to sustain its bullish trajectory. This has prompted traders to ask whether Bitcoin is gearing up for further upside, or settling into a broader consolidation phase. Technically, both outcomes are plausible, but recent structural changes suggest that Bitcoin may now be trading within a range rather than in a continued uptrend. Key technical points: Market Structure Breach: After a new all-time high, a confirmed technical low has formed, breaking the trend of higher lows. Failed Auction at Highs: Price failed to hold the breakout above the previous range high, showing signs of exhaustion. Lower High Formation: Bitcoin appears to be forming a potential lower high, which could precede a deeper correction. BTCUSD (1D) Chart, Source: TradingView Bitcoin’s uptrend was initiated by a strong impulse candle from the $75,000 region, marking the start of a powerful bullish leg. This move shifted market structure and set the stage for new highs. However, after reaching a fresh all-time high, price failed to hold the breakout zone,leading to a rejection resembling a failed auction. This failed auction reflects a common reversal pattern: an attempted breakout that lacks volume or sustained demand, followed by a sharp retracement. The recent downside move has now confirmed a local low, signaling that the prior bullish structure may be deteriorating. What traders must now watch for is the formation of a lower high. If this takes shape, it could be an early sign of a more substantial correction, possibly revisiting…
Filed under: News - @ June 9, 2025 9:28 pm