Since May, the broader cryptocurrency market had remained relatively flat, with Bitcoin undergoing a period of correction. This trend shifted at the beginning of July, when Bitcoin resumed its upward trajectory, once again aligning with the prevailing long-term bullish trend.

This development was not entirely unexpected. An earlier analysis published prior to the breakout outlined a potential setup anticipating this move. However, for those who may have missed the initial opportunity—or are still holding positions with uncertainty about next steps—the current situation calls for renewed focus on key levels.

Historically, retail market participants tend to enter positions after an asset has already begun to rise, often providing liquidity and serving as counterparties to institutional players who may begin to secure profits. However, this does not automatically imply that it is too late to act, nor does it suggest an imminent sharp reversal.

Bitcoin technical analysis

BTCUSD - 1 Day Time Frame

At this stage, maintaining objectivity and avoiding emotionally driven decisions is critical. Attention could now shift toward monitoring key technical zones, particularly the newly formed support area on the daily timeframe.

The weekly structure also presents an important consideration. Ideally, the low of the current weekly candle could remain above the high of the candle from two weeks prior.

Such a pattern may reinforce the strength of the ongoing bullish movement and provide added conviction for market participants evaluating their exposure. If Bitcoin revisits the support zone in a controlled, corrective manner, it could even present a renewed entry opportunity for those who were not positioned during the initial breakout.

On the other hand, a confirmed close below the support zone on both the daily and weekly timeframes could indicate weakening structure. In that case, market participants may consider adjusting exposure—either partially or fully—based on their individual risk parameters and portfolio strategies.