Technical analysis by EmmaChartist about Symbol BTC: Buy recommendation (18 hour ago)

Hello everyone, after last week's sharp sell-off, the market is gradually stabilising, and Bitcoin is showing notable signs of recovery. The price is currently holding steady around $110,500 – not yet a breakout signal, but enough to indicate that buyers are still present and capital is cautiously returning. On the H4 chart, the price structure has shifted into a recovery consolidation phase after forming a temporary bottom near $108,000. This is a crucial support zone—not only because the price has bounced multiple times, but also due to continuous bottom-fishing liquidity, suggesting that despite sellers' efforts to push lower, they have not been able to break through the buyers' defence. The nearest resistance zone is at $111,800–$112,500, where FVGs overlap with the Ichimoku cloud's edge, making it a significant test for the rally's strength. A breakout above this level would confirm a new uptrend, targeting $114,200–$116,000. Key observations: The Ichimoku cloud is narrowing, signalling an impending breakout. Additionally, each recent dip has seen strong absorption, a characteristic of smart money accumulation. Regarding news, the current environment supports a recovery scenario: Risk-on sentiment is returning, with capital moving out of USD and into risk assets like crypto. US bond yields are declining, reducing pressure on Bitcoin. Spot Bitcoin ETFs continue to attract capital, reinforcing confidence in the long-term trend. The market is awaiting US economic data (CPI, PCE) – weaker figures could give the Fed more reason to ease, benefiting Bitcoin. I lean towards the scenario where the price continues to consolidate around $109,500–$111,000 before breaking out to $112,500. Only a significant drop below $108,000 with high volume would reverse the trend. For now, the bulls are back—but they're moving wisely, quietly, and without fanfare.