The latest Bitcoin move has returned bulls to short-term control, but the setup isn’t a clean breakout. The 4‑hour chart shows momentum building, the rising support trendline holding, and buyers pushing to higher highs. However, one step appears unfinished: a likely retest of the $71,900–$72,000 demand zone.
Bitcoin has broken above the long descending resistance that capped prior rallies, shifting the 4‑hour structure more bullish. Yet the price has moved ahead of the strongest demand area, leaving the $71,900–$72,000 range behind — a zone bears may still try to revisit. A retest of that range would not signal weakness but would absorb remaining sell orders, create a buying opportunity, and establish a firmer base for a larger expansion.
The analysis projects a target of at least $97,400 for the next major rally, so the bullish case has room to run but is not unlimited. An invalidation level sits at $67,500: a breakdown below that would indicate the breakout failed and sellers regained control of the short‑term structure.
The broader market backdrop favors bulls. Bitcoin’s rebound has coincided with heavy demand into US spot Bitcoin ETFs, which saw roughly $630 million in inflows on May 1. Bitcoin briefly traded above $80,000 over the weekend but reversed before the daily close; a daily close above $80,000 would be an early signal of broader expansion. The next major confirmation would be a daily close above the 200‑day moving average, currently near $83,600 — a moving average Bitcoin has not closed above since October 2025.
If the expected retest holds and support reasserts, the path toward new yearly highs and the $97,400 target becomes more probable. If price breaks below $67,500 instead, the bullish thesis would be compromised.