This is a very important weekly close.

And so far, its looking good for the bulls.

But lets cover the 360 degree picture here.

On the HTF Bitcoin has now:

- Reclaimed HTF structure and the 2025 yearly low

- Broken out on the 1W RSI

- Ticked bullish on the 1W MACD

- Broken above the 100D SMA

On the bearish side we have:

- Below the 1W 50EMA

- Below the 200D EMA

- Short term holders average cost & true market mean at $79,000

There are some very key levels for BTC to work through here before you could begin to confirm a new uptrend.

However, every previous time Bitcoin has reclaimed HTF structure, it has marked the cycle low. In addition, with the RSI and MACD so strong, I am, every day that passes, expecting this to mark our low and move higher.

On the LTF we have:

- Price stabilising at this key level

- Funding on its longest negative streak in years

- Spot leading the rally

- Coinbase premium consistently positive

In short, there has been a strong bid for Bitcoin and its holding it.

My thoughts as we head into next week/month are that a rejection here to a retest of the $74k level could be next, retest the HTF structure breakout...

But then a move towards $86,000, breaking through STH cost basis and true market mean this time, to have a go at the 1W 50 and 1D 200 EMA's. They will bring another challenge.

Overall though, I am of the view that we have very likely bottomed here and the breaking above $74,400 on the weekly confirms the expanded flat correction for me.

Both the RSI, MACD and weekly structure show positive signs.

If we lose this level again on a next weekly close, that would be bearish and I would then be looking for lower targets in the range again.

Let's see how it goes!