Bitcoin Trade Thesis & OutlookBitcoin / U.S. dollarBITSTAMP:BTCUSDErictaylorBitcoin has now rallied off the $65,600 area for the second time, forming what looks like a double bottom on the lower timeframe. This is an important shift, as it suggests buyers are stepping in consistently at that level. Following that bounce, price pushed up toward $70K, where we saw a slight rejection and pullback. Since then, Bitcoin has been forming a clean falling wedge, which is a bullish continuation pattern. This wedge is also lining up well with the neckline of the double bottom, adding confluence to the setup. ⸻ Current Structure •Key Support: $67,500 •Major Base: $65,600 •Near-Term Resistance: $71,400 •Upside Targets: $78,000 → $84,000 ⸻ Bullish Scenario If Bitcoin breaks out of the falling wedge and pushes higher, the next major level to watch is around $71,400, which aligns with a key Fibonacci resistance. This is likely to be the most difficult level on the chart in the near term. If price can: •Break above $71,400 •Hold it as support 👉 That opens the door for a larger move toward $78K and potentially $84K. ⸻ Risk / Invalidation As long as Bitcoin holds above $67,500, the short-term bullish structure remains intact. If we lose that level: •The setup weakens •Potential for a move back toward lower support increases ⸻ Market Context This is a tricky environment, as sentiment is mixed. Many are still leaning bearish and expecting lower prices—which is always possible. However, from a technical standpoint, the short- to mid-term structure is showing signs of strength. ⸻ Key Takeaway Bitcoin is approaching a major decision zone: •Below $71,400 → expect resistance and possible rejection •Above $71,400 → potential breakout into a larger expansion move Be prepared for volatility at that level—it’s likely to be a key battleground between buyers and sellers.