Target Hit at 66K: Is Bitcoin Ready for a Bullish Reversal?Bitcoin / U.S. dollarBITSTAMP:BTCUSDTimgucciIn January, I shared a bearish outlook on Bitcoin, highlighting the likelihood of a move toward the 66K region to complete Wave ⑤. Price has since followed through with precision, reaching the projected zone and tapping into a key area of confluence near the lower boundary of the descending channel. With downside objectives now achieved, the focus shifts from continuation to potential reversal. The reaction off the lows is the first signal worth paying attention to. What matters next is not just a bounce, but structure. If Bitcoin begins to form an impulsive move to the upside, followed by a higher low, this would suggest the early development of Wave ①, a critical step in confirming a broader bullish shift. In the near term, any pullbacks should be viewed through the lens of accumulation rather than weakness, as long as price holds above the recent lows. A reclaim of broken structure and continued higher highs would strengthen the case for a new trend emerging. The market has delivered on the downside. Now the question is whether it’s ready to rotate. Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial advice.