Bitcoin’s Bullish Setup: Why the Outlook is Still Strong — A Technical Macro Analysis

Since March, Bitcoin has traded within a descending channel, which can be viewed as a bull flag.

However, we need to understand what's happening instead of simply labeling it as a certain pattern.

1️⃣ Peak & Liquidity Pockets

After hitting a new all-time high (ATH) above $70K in March, profit-taking followed, pushing prices lower. Since then, each lower high has created liquidity pockets, with major liquidity sitting above $70K.

2️⃣ Accumulation

What’s interesting is the accumulation phase within the channel. Volume has stayed relatively low, indicating consolidation, but it spikes when the price hits the lower trendline—classic accumulation behavior.

3️⃣ Reversal

Looking forward, breaking through each lower high could trigger a ripple effect of buying and liquidity slurping, pushing Bitcoin higher. The first liquidity pocket sits at $64.3K (also a smaller one).

4️⃣ Patience & Zoom-Out

Based on the long-term chart, Bitcoin looks more than fine. Don't get fooled by short-term price action or volatility due to major events. The long-term outlook: bullish.

Accumulation and liquidity patterns suggest that Bitcoin will eventually break out and surge. We just have to be patient.