BTC LongBitcoin / US DollarCOINBASE:BTCUSDTradewithArzhangBroader Market Structure BTC on the 15-minute chart is showing a bullish short-term structure. Price recovered strongly from the $77,000 area and has been printing higher highs and higher lows into the current $79,018 region. The chart does not show a clearly labeled CHoCH/BOS price level, so I would not assign an exact structural-break level that isn't visible. The important structural point is that the rebound has reclaimed the prior intraday swing area and is now testing the $79,000–$79,400 resistance region. The broader move favors continuation higher as long as the recent demand structure remains intact. Supply & Demand The nearest demand zone is approximately $78,450–$78,700. This is a relatively fresh zone, and buyers previously stepped in strongly from this area, producing the latest expansion toward $79,000. Below it, the $77,700–$78,050 demand zone is stronger because price previously reacted aggressively there and launched another substantial move higher. The deeper $77,450–$77,650 region is additional support and would become important if the first two zones fail. There is no clearly marked red supply zone immediately above current price, but the prior high around $79,394 is important resistance/liquidity. A clean break above that high would expose the $79,700–$80,000 psychological area. Price Action in the Marked Region Price is currently around $79,018 after a strong bullish expansion. Your projected path shows a pullback toward approximately $78,200–$78,500, followed by a potential bullish reversal and continuation toward $79,700+. I agree with the general structure, but the ideal retracement would be into the marked demand rather than chasing price at $79K. If price pulls back into $78,450–$78,700 and produces rejection/absorption, that would provide a better confirmation for the next upside leg. Bias & Expected Direction Bias: Bullish Expected path: $79,000 → pullback toward $78,450–$78,700 → bullish reaction → $79,400 → $79,700–$80,000 The key bullish invalidation is a decisive break and acceptance below approximately $77,700. That would damage the current higher-low structure and open the door toward the deeper $77,450 area and potentially lower. A clean breakout and acceptance above $79,394 would instead strengthen the bullish continuation thesis. Momentum & Footprint Analysis Momentum currently favors buyers. The strong upward displacement from the $77.7K–$78K area and the series of higher highs show aggressive demand. The chart itself does not display footprint/cluster data, so there is no legitimate footprint confirmation I can claim from the image. At the marked demand, the ideal footprint confirmation would be sell-side absorption, positive delta divergence, stacked buy imbalances, or a failed auction below the demand zone. That would support the bullish continuation. If price reaches $79.3K–$79.4K and shows buying exhaustion or heavy offer absorption, a deeper pullback becomes more likely before another attempt higher. News / Macro Catalyst There are significant current catalysts supporting the setup but also creating volatility. Bitcoin has gained roughly 23–26% during August, making it one of the strongest major assets for the month. Strategy also announced a new purchase of 4,603 BTC for approximately $369.7 million, bringing its holdings to 845,050 BTC. However, the macro backdrop is mixed. Fed Chair Kevin Warsh's hawkish comments have pushed markets toward pricing a higher probability of a September rate hike, while renewed U.S.–Iran tensions have increased risk and oil-price volatility. This combination explains why $79.4K–$80K is important resistance: bullish institutional demand is present, but macro conditions could create sharp rejection and volatility. Overall Setup Bullish structure → wait for pullback → demand reaction → continuation toward $79.4K/$80K. Bullish above: $77,700 Key demand: $78,450–$78,700 Resistance: $79,394 Upside objective: $79,700–$80,000 Invalidation: sustained break below $77,700