Bitcoin Eyes $97K Rally After Likely $72K Retest
The latest Bitcoin move has brought bulls back into control of the short-term chart, but the setup is not as straightforward as a clean breakout into higher prices. The 4-hour structure shows momentum building…
Short-term control has swung back to Bitcoin bulls, but the move is not yet a clean breakout. On the 4-hour chart momentum is building, the rising support trendline remains intact, and price action is making higher highs — yet one key step looks unfinished: a probable retest of the $71,900–$72,000 demand zone.
Bitcoin has cleared the long descending resistance that capped prior rallies, shifting the 4-hour structure toward bullish. However, the market has pushed ahead of the strongest demand area and left the $71,900–$72,000 range behind. That zone is likely to be revisited: a retest would absorb remaining sell orders, offer a better buying opportunity, and create a firmer base for a larger move higher rather than signaling weakness.
The near-term upside target remains at least $97,400 for the next major rally, so the bullish thesis has room to run but is not unlimited. The invalidation level sits at $67,500 — a decisive break below that would indicate the breakout failed and sellers reclaimed short-term control.
Macro cues support the bulls. Bitcoin’s rebound has come alongside heavy demand for US spot Bitcoin ETFs, which recorded roughly $630 million of inflows on May 1. Price briefly traded above $80,000 over the weekend but reversed before the daily close; a daily close above $80,000 would act as an early sign of broader expansion. A stronger confirmation would be a daily close above the 200-day moving average, near $83,600, a level Bitcoin has not closed above since October 2025.
If the expected retest holds and support reasserts, the path to new yearly highs and the $97,400 target becomes more likely. A break below $67,500 would compromise the bullish scenario.