Bitcoin Bullish Continuation – Testing Resistance Amidst AscendiBitcoin / TetherUSBINANCE:BTCUSDTGullu_FxThis chart illustrates a recovery phase for Bitcoin (BTC) following a significant market bottom established in early February near the $60,000 mark. The price action is currently defined by a series of structural shifts and a well-defined bullish trend. 1. Market Structure & Trend Break of Structure (BOS) & CHoCH: The chart highlights several "Change of Character" (CHoCH) and "Break of Structure" (BOS) points. After a period of consolidation in March, the price successfully shifted from a bearish to a bullish bias, evidenced by the consistent formation of higher highs and higher lows. Ascending Channel: Since April, BTC has been respecting a steady ascending channel (the green diagonal corridor). The price is currently hugging the upper boundary of this channel, indicating strong buying momentum. 2. Key Support and Resistance Levels Current Price: Approximately $78,044. Immediate Resistance: A significant horizontal level sits at $78,465, with a primary target (Take Profit zone) marked at $84,793. Demand Zone (Support): There is a clear "Order Block" or demand zone identified in blue between $65,000 and $70,000, which served as the launchpad for the current rally. Stop Loss/Invalidation: The red shaded area suggests a risk management zone around $75,017, where the bullish thesis would be questioned if the price breaks below the channel. 3. Future Outlook The projection (indicated by the black zig-zag line and the large teal arrow) suggests a bullish continuation. The expectation is for Bitcoin to break through the immediate $78k resistance and trend toward the $84k - $85k range by late May or early June, provided the ascending channel remains intact.