BTC/USD: Crucial POI Hold! Are We Ready for a 70K Breakout?Bitcoin / U.S. dollarBITSTAMP:BTCUSDBillionaire0000Looking at the 4-hour chart of Bitcoin (BTC/USD) in image_7d41be.png, we can see a major structural shift brewing. After a prolonged corrective phase from the $80,000 region, Bitcoin has finally found strong demand. The price has perfectly mitigated a critical Point of Interest (POI) and demand zone resting between $58,597 and $59,970. The fact that the price swept liquidity below this area and immediately printed a bullish reaction (+CISD) signals that smart money is heavily defending this bracket. Technical Breakdown The Trendline Liquidity: For weeks, BTC has been respecting a descending trendline, building up massive buy-side liquidity above it. A breakout past this trendline is highly likely to trigger a rapid short squeeze. Elliott Wave Projection: We are currently anticipating a classic 5-wave impulsive structure off the POI support: Wave (1) & (2): Initial minor breakout and a healthy retest of the demand zone. Wave (3) & (4): Acceleration through the trendline followed by a minor correction. Wave (5): A powerful final leg targeting the $70,700 psychological level. Momentum Indicator: The bottom oscillator shows momentum rapidly recovering from oversold conditions, pushing into bullish territory to support this upward bias. Trading Setup & Key Levels 🎯 Target Price: $70,700 🛡️ Invalidation/Stop Loss: Close below $58,500 ⏳ Current Price: ~$60,709 What to Watch Next: Keep a close eye on the immediate local price action. A clean break above the immediate local resistance will confirm Wave (1), setting up the perfect "Buy the Dip" opportunity on the Wave (2) retracement back into our highlighted grey demand box. What do you think? Will BTC hold this POI and smash $70k, or are the bears going to push us lower? Drop your thoughts and charts in the comments below! 👇 Disclaimer: This is for educational purposes only and does not constitute financial advice.