Pair: $BTC
USDT
Timeframe: 4H
Current Price: Around 68,990
Market Structure Overview
Price was in a downtrend (descending trendline visible).
A breakout above the trendline has occurred.
Now price is pulling back to retest the broken trendline.
A key horizontal support zone is around 65,800 – 66,500.
Previous resistance around 72,500 – 73,500.
This is a classic Break → Retest → Continuation structure.
What This Setup Means
When price breaks a descending trendline:
It signals potential trend reversal or bullish shift.
If price retests the trendline and holds,
Buyers step in → Upside continuation likely.
Trade Plan Idea (If Retest Holds)
Entry Zone: 66,000 – 67,000 (on bullish confirmation candle)
Stop Loss: Below 65,500
Targets:
TP1: 70,500
TP2: 72,500
TP3: 73,500+
Invalidation
If price closes strongly below 65,500,
The breakout becomes a fake breakout,
Then downside toward 63,500 possible.
Confirmation Signals to Watch
Bullish engulfing candle on retest
Strong volume on bounce
Higher low formation
RSI holding above 50
Summary
BTC has broken the downtrend structure.
Now it is retesting the trendline.
If buyers defend the zone, continuation toward 72K–73K is possible.