Bitcoin Bulls Have It for Now, But Can They Break Structure?Bitcoin / TetherUSBINANCE:BTCUSDTDukesMarketAnalysisDecent Run From Monday's Low Bitcoin has put in a pretty decent run since Monday's $61,306 low, with several bullish 4-hour candles pushing price higher. The bulls have the short-term momentum for now, but price is approaching an important area. Previous Highs Now Being Tested Price is sitting just below the previous 4-hour highs at $64,243 and $64,700. With the current candle showing some rejection from $64,200, could we be seeing the early stages of another rejection candle? Swing Highs at $65,261 Then $67,292 A clear break above the previous highs would target the 0.786 Fib at $65,261. Beyond that, the next major daily high stands at $67,292, although this level isn't marked on the chart. 100/50-Period EMAs Turn Bullish The 100/50-period EMAs have now bullishly crossed, with price trading above both averages. This supports the improving short-term picture and gives the bulls something to build on. Bears Need Confirmation A confirmed bearish candle from the current area could signal that the latest rally is running out of steam. That could potentially re-kick the primary downtrend and put the recent lows back into focus. In Summary Bitcoin has enjoyed a decent run from Monday's low, but price is now testing the previous 4-hour highs. A break above would bring the 0.786 Fib at $65,261 into focus, followed by the $67,292 daily high. However, a confirmed bearish candle from here could signal rejection and potentially re-kick the primary downtrend. For now, the bulls have the short-term momentum, but this is where the real test begins.