#BuyTheDipOrWaitNow? Bitcoin is currently trading in a consolidation phase after rejecting from a recent local high. Price action shows that BTC is holding above a key demand zone, which indicates that buyers are still active and defending this area. The overall market structure on the higher timeframes remains bullish, as Bitcoin continues to form higher highs and higher lows. This suggests that the current pullback is more likely a healthy correction rather than the start of a trend reversal. Volume has slightly decreased during the pullback, which supports the idea that selling pressure is weak.

On the 4-hour chart, BTC is moving inside a falling channel, which often acts as a bullish continuation pattern. As long as price remains above the channel’s lower boundary and the 50-period moving average, the probability of an upside breakout stays high. The RSI is hovering near the neutral zone, meaning there is room for another bullish move without being overbought. Momentum indicators are slowly turning upward, hinting that buyers may soon take control again.
The primary support zone lies around the recent swing low, where strong buying previously entered the market. If BTC holds this region, we can expect a push toward the next resistance area near the recent high. A clean breakout above this resistance, backed by increasing volume, would likely open the door for a stronger rally toward higher levels. However, if BTC loses the support zone, a deeper retracement toward the next demand area could occur before the bullish trend resumes.
Trading Plan:
For short-term traders, buying on pullbacks near the support zone offers a favorable risk-to-reward setup. A conservative stop-loss should be placed just below the support to protect against unexpected volatility. The first target is the nearby resistance, while a breakout could allow for extended profits by trailing stops.$BTC