BTC - 4H Breakout Following CPIBitcoin / TetherUSBINANCE:BTCUSDTVIAQUANTRight now Bitcoin is seeing a breakout on the 4H timeframe. This comes after CPI data was released this morning, with headline CPI decreasing 0.4% month over month which was the largest monthly decline since April 2020. The annual rate came in at 3.5%, below the 3.8% forecast and down from the prior 4.2% reading. Energy prices fell 5.7% for the month, acting as the primary driver of the cooler than expected print. Now it is important to analyze what comes next. Two Scenarios From Here Given this breakout, either price will instantly drop back down to the black trendline and test it as new support (labeled "Watch for Any Retests" on the chart) or price will continue climbing toward the red box, see a selloff from that lower timeframe supply zone, then drop back down to the trendline to complete the retest before continuing higher. The Key Level to Watch However, the most important signal for continued price appreciation will be a daily close above the top of the red box. This red box ranges from $64,100 to $66,300, but the primary part of this zone on the 4H is $65,700 to $66,300. Here is what that zone looks like on the daily timeframe: Even with the June 15, 2026 daily candle, price was rejected right at the top of this LTF supply zone, which led Bitcoin to a lower low. For price to reach the 1.618 extension target around $73,000, it is imperative Bitcoin closes above the top of the red box at $66,300. That close should give buyers enough incentive to recreate this zone as a demand level, providing the support necessary to complete the move back into the $70,000 range. To view my higher timeframe analysis refer to these previous ideas: