Bitcoin Bulls Eye Breakout Above $65,555Bitcoin / U.S. DollarFOREXCOM:BTCUSDdavidscuttBitcoin continues to carve out a series of higher highs and higher lows on the H4 timeframe while compressing beneath resistance at $65,555. The level has already rejected one false breakout, with another test arriving in early Asian trade today. Importantly, the pullback from resistance has so far been shallow, suggesting buyers remain willing to step in on dips and increasing the likelihood of another attempt at a more sustained breakout. The oscillators continue to favour upside. RSI (14) sits above 50 at 60.6, while MACD has staged a bullish crossover and continues to trend higher in positive territory, reinforcing the improving momentum picture. Rather than chasing a breakout preemptively, I'd prefer to wait for confirmation. Should the price break above $65,555 and hold, followed by a successful backtest and bounce from the level as support, long positions could be considered given the improved risk-reward dynamics. Initial upside targets would be the June 18 swing high of $64600 before attention turns to $67,260, the June 16 peak. Failure to hold above $65,555 after a breakout would weaken the bullish setup, while a break back beneath the rising trendline and recent higher lows would invalidate the immediate upside bias. One potential catalyst worth watching is this week's heavyweight technology earnings calendar. SK Hynix reports on Wednesday morning in Asia, followed by Alphabet and Tesla in the U.S. before Intel on Thursday. Given the sizeable drawdown already seen across many AI-related names, particularly memory and semiconductor stocks, the prospect of positive earnings surprises may be enough to trigger a squeeze higher in risk assets. Bitcoin has, at times, traded alongside broader risk appetite, suggesting it could benefit if that were to occur. That said, the relationship is far from perfect. Some momentum-focused traders who once gravitated towards crypto have likely shifted into AI equities, meaning strong performance in technology stocks could just as easily divert flows away from Bitcoin. Good luck! Ds