BTC/USD Bullish Reversal: Channel Support BounceBitcoin / U.S. dollarBITSTAMP:BTCUSDProfitPro669Bitcoin (BTC/USD) is demonstrating a strong bullish response off a major support junction around $63,100 – $63,700. After sweeping lower-timeframe liquidity and tapping directly into key market structure, the convergence of price action, volume imbalances, and momentum indicators strongly points toward a bullish continuation. Detailed Technical & SMC Breakdown Demand Zone & Order Block Defense: Price is holding the lower boundary of the overarching ascending channel. A clear Bullish Order Block (OB) at $63,130 is providing a strong structural demand floor for buyers. Fair Value Gap (FVG) Mitigation: The drop mitigated the Bullish FVG zone ($62,471 – $63,715), turning a previous market imbalance into active, functional support. Golden Pocket Confluence: The ongoing bounce aligns precisely with the 0.618 Fibonacci retracement level, marking an optimal trade entry (OTE) zone. Momentum & Indicator Divergence: RSI: A distinct Bullish Divergence on lower timeframes indicates seller momentum is exhausted. MACD: A fresh Bullish Crossover below the zero line accompanied by expanding green histogram bars confirms a shift in trend direction. Key Price Levels Invalidation: $62,471 (A clean loss of this level invalidates the bullish setup) Target 1: $64,859 (Immediate Resistance & Liquidity Target) Trading Plan & Outlook As long as BTC maintains acceptance above the $63,715 support zone, the path of least resistance remains upward. Look for a sustained breakout above $64,859 to confirm follow-through toward the upper channel boundary.