$BTC

In this Bitcoin futures chart on the CME, I want to show you something interesting about the price structure. You can see that several Break of Structure (BOS) are being marked, indicating key breaks in the market structure. This is often a sign of continuity in the current trend, which in this case seems to be bullish.

What am I seeing here?

Bullish Trend: The price is forming higher highs and higher lows. This is typical of a bullish trending market.

Important Areas:

These areas in blue that you see shaded represent key levels of support and resistance. For example, levels close to 96,000 and 92,000 have acted as important accumulation zones.

Current Action: The price has bounced from a support zone and seems to be heading back towards resistance. This could be a good opportunity to look for confirmation before entering a long position.

In case the price cannot and does not maintain a solid position above 100,000, we would see a stronger pullback in the alts.